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Conflicts and Financial Collapse: The Problem of Secondary-Management Agency Costs

Steven L. Schwarcz
Duke University - School of Law



Yale Journal on Regulation, Vol. 26, No. 2, p. 459, 2009
Duke Law School Public Law & Legal Theory Paper No. 230

Abstract:     
Corporate governance scholarship has long focused on conflicts of interest between firms and their top executive officers. This essay contends that increasing leverage and financial complexity make it important for scholars to also focus on conflicts of interest between firms and their secondary managers.

Keywords: conflicts of interest, financial leverage, corporate governance

Accepted Paper Series

Date posted: January 04, 2009 ; Last revised: November 15, 2009

Suggested Citation

Schwarcz, Steven L., Conflicts and Financial Collapse: The Problem of Secondary-Management Agency Costs (October 1, 2009). Yale Journal on Regulation, Vol. 26, No. 2, p. 459, 2009; Duke Law School Public Law & Legal Theory Paper No. 230. Available at SSRN: http://ssrn.com/abstract=1322536


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Contact Information

Steven L. Schwarcz (Contact Author)
Duke University - School of Law ( email )
Box 90360
Durham, NC 27708
United States
919-613-7060 (Phone)
919-613-7231 (Fax)
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