The Literature Network - New Academic Study at Purdue Univsity Overturns Adam Smith, The Father of Economics.

New Academic Study at Purdue Univsity Overturns Adam Smith, The Father of Economics.

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From: PR Newswire
Date: 19990921
Author:

WEST LAFAYETTE, Ind., Sept. 21 /PRNewswire/ -- Most large companies today are run by managers who typically own only a small fraction of their company. This can lead to agency problems i.e. the possibility that managers may take decisions in their own interests and not in the interests of shareholders. Recognizing the potential for this divorce of interests, modern day finance has proscribed that companies offer employment contracts that include stock options and performance bonuses to align managerial interests with those of shareholders. The conventional view is that, before ...

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