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| Managers' Stock Incentives, Internal Capital Markets and Corporate Diversification |
| Liu Aoqiong;Liu Xinyu |
| School of Business, Nanjing University, Nanjing 210093, China |
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Abstract This paper uses double principal-agent theory as the basis to establish the theoretical model to which analyzes the effect of managers' stock incentives on the allocation efficiency of the internal capital markets and the corporate value. We select panel
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Received: 28 April 2016
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