Conflicts and Financial Collapse: The Problem of Secondary-Management Agency Costs
14 Pages Posted: 4 Jan 2009 Last revised: 21 May 2013
Date Written: October 1, 2009
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
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