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The Dynamics of the Management-Shareholder Conflict

Fluck, Zsuzsanna
NYU Faculty Digital Archive · Papers
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multidisciplinary
This paper investigates the distribution of equity ownership between entrenched corporate insiders and dispersed outsiders when management has the ability to divert or manipulate the cash flows and when it is costly for equity holders to verify or prove any managerial wrongdoing for a third party su
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