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    • Perceptions Of Benevolence And The Design Of Agency Contracts: Ceo-tmt Relationships In Family Firms

    Perceptions of benevolence and the design of agency contracts: CEO-TMT relationships in family firms

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    Date
    30/11/2017
    Author(s)
    Authors: Cristina Cruz, LR Gómez-Mejia, M Becerra
    Organization
    Academy of Management Journal 53 (1), 69-89
    Publication
    Academy of Management. It will open in a new tabAcademy of Management
    Publication Type
    Academic Research

    Using a sample of 122 Spanish family-owned firms , we  analyzed the determinants and consequences of the presence of trust in executive contracts in family firms.  Our findings proved that high level of trust of the CEO in the Top Management Team reduces the pay-performance sensitivity of  executive compensation for both, family and nonfamily executives although the effect is stronger for the former than for the latter.​

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