Corporate governance scholarship has long focused on conflicts of interest between firms and their top executive officers. This Essay contends that increasing leverage and financial complexity make it important for scholars also to focus on conflicts of interest between firms and their secondary managers.
Steven L. Schwarcz,
Conflicts and Financial Collapse: The Problem of Secondary-Management Agency Costs,
Yale J. on Reg.
Available at: http://digitalcommons.law.yale.edu/yjreg/vol26/iss2/12