Seeking Alpha: Excess Risk Taking and Competition for Managerial Talent
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We present a model in which managers are risk-averse and firms compete for scarce managerial talent ("alpha"). When managers are not mobile across firms, firms provide efficient compensation, which allows for learning about managerial talent and for insurance of low-quality managers. When instead
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美国国家经济研究局创建时间：
2013-03-01
