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| Governance of Debts and Incentives for Managers |
| PAN Min, ZUO Yi |
| Wuhan University, Wuhan, China |
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Abstract This research is based on an incomplete debt contract mode. Debtor's choices of participating in corporate governance and incentives for managers were analyzed. The results show that whether the debtors acquire the control rights of corporate depends on the intrinsic corporate operations and the level of incentives for managers.
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Received: 27 February 2006
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2006, Vol. 3 
