haku: @indexterm management behaviour / yhteensä: 173
viite: 151 / 173
| Tekijä: | Shleifer, A. Vishny, R. W. |
| Otsikko: | Management entrenchment: the case of manager-specific investments |
| Lehti: | Journal of Financial Economics
1989 : NOV, VOL. 25:1, p. 123-139 |
| Asiasana: | GENERAL MANAGERS INVESTMENT SHAREHOLDERS MANAGEMENT BEHAVIOUR |
| Kieli: | eng |
| Tiivistelmä: | It is described how managers can entrench themselves by making manager-specific investments that make it costly for shareholders to replace them. By making such investments, managers can reduce the probability of being replaced, extract higher wages and larger perquisites from shareholders, and obtain more latitude in determining corporate strategy. The model of entrenchment has empirical implications that are consistent with the evidence on managerial behaviour. |
SCIMA