Equity Vesting and Managerial Myopia
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This paper links the impending vesting of CEO equity to reductions in real investment. Existing studies measure the manager's short-term concerns using the sensitivity of his equity to the stock price. However, in myopia theories, the driver of short-termism is not the magnitude of incentives but
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美国国家经济研究局创建时间：
2013-09-01
