The Harvard Law School Forum on Corporate Governance and Financial Regulation » Internal Governance of Firms

I really like this insight. It is from Raghuram Rajan's discussion of The Internal Governance of Firms by Acharya and Myers. It will definitely be added to class notes.The simple version is that when junior level managers want to climb to the top, they have a vest interest in monitoring senior level managers.The Harvard Law School Forum on Corporate Governance and Financial Regulation »