Managerial wealth, behavioural biases and corporate monitoring : impact on managerial risk taking and value creation in UK high-tech and low-tech acquisitions
While the traditional agency model assumes managerial risk aversion and underinvestment in high-risk opportunities, the behavioural agency model allows for risk seeking by managers leading possibly to over-risky investments. Corporate governance mechanisms through their disciplining roles can steer...
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Cranfield University
2005
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| Online Access: | http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.424000 |