BAGGS, JEN; BETTIGNIES, JEAN-ETIENNE DE - In: Journal of Industrial Economics 55 (2007) 2, pp. 289-323
We model the effects of competition on managerial efficiency and isolate the agency effect of competition, present only in firms subject to agency costs, from the direct pressure effect of competition, which is present in all firms. Using a unique set of Canadian data that surveys both firms and...