Plausibly Exogenous [1467] - Dual Ownership (02/07/2024)
LHS Variable
Firms’ executive compensation
RHS Variable
Dual holders (ownership of both equity and bonds of a given company)
Source of Exogenous Variation
Financial institution mergers that increase or decrease dual ownership for portfolio companies
- Chen, Zhang, and Zhu (2019), “Dual Ownership and Risk-taking Incentives in Managerial Compensation”