Our study investigates the causal relationship between managerial litigation risk and auditor choice decisions. Exploiting staggered adoption of universal demand (UD) laws at state level in United States, we use a stacked regression approach find lower propensity for affected firms to switch higher-quality auditors after exogenous reduction risk. This result supports entrenchment hypothesis tha...

Presence of free cash flow and anti-takeover provisions are often symptomatic agency problem in a firm. We argue that this relationship is likely to be mediated by motivations the management. Extant family firm research suggests management firms more focus on long-term performance motivated desire build legacy attain longevity. This study finds whereas average for non-family firm, both negative...

We analyzed the effect of managerial ownership, leverage, and discretion on agency costs 14,719 Chilean companies. The results instrumental variables (IV) regressions indicate that ownership capital structure have a negative non-linear costs. Managerial concentration is an effective means internal control over costs, discarding entrenchment effect. impact debt suggests for high leverage levels,...

1 I n t r o d u c t i o n The notion of the epistemic entrenchment has recently at t racted quite some attention in the AI community. It was introduced, first under the name "epistemic importance", by Peter G~irdenfors [7, 8]. He specified two possible "origins" of epistemic entrenchment: an information-theoretic appoach and a paradigm approach. However, neither of these approaches squares well...

Constitutional architects usually include in constitutional texts an unamendable clause known as constitutional entrenchment. A constitutional entrenchment serves different purposes such as, shielding and preserving high valued constitutional norms and distancing the state from past autocratic practices. The study of constitutional entrenchment has attracted great attention in recent years sinc...

In Cameroon’s state-owned enterprises (SOEs), a number of managers have succeeded in maintaining their positions as the head corporation, paradoxically with disappointing results. Based on this unorthodox practice, study strives to understand and explain strategic levers used by these maintain at top company, based 12 cases SOEs. The results corroborate existing knowledge make it possible ident...

The AGM framework of belief dynamics fails to account for iterated belief change. This paper extends the AGM framework in order to solve this problem. As in the AGM, an epistemic input is represented as a single sentence. Unlike the AGM, however , a belief state is represented as an epistemic entrenchment relation. Three state transition functions { namely, entrenchment expansion, entrenchment ...