Stock Market and Managerial Ownership
Journal of Applied Corporate Finance F A L L 2 0 00 The Rise in Managerial Stock Ownership by Clifford G. Holderness, Boston College, Randall S. Kroszner, University of Chicago, and Dennis P. Sheehan, Pennsylvania State University V O L U M E 13 . 3 THE RISE IN MANAGERIAL STOCK OWNERSHIP by Clifford G. Holderness, Boston College, Randall S. Kroszner, University of Chicago, and Dennis P. Sheenan, Pennsylvania State University* uch of the vast research on corporate control over the past 30
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...Costumes Bring out Different Personalities Pulling up in the parking lot there are small groups of people crowded around getting out of their cars and preparing to enter the building, there is laughter and talking throughout the parking lot leading up to the building. Everyone is dressed in costumes for the theme of the party; there are mummies, zombies, cartoon characters, fairies, devils, musicians, super Heroes, cowboys and cowgirls, and many more. Everyone wearing a costume seems to present a more outgoing and somewhat “false” personality relevant to the character or thing that their costume is portraying. As we walk closer to the entrance from the parking lot you can hear the music, and the noise of the people inside. The music is loud and draws a crowd towards the doors. When we arrive at the entrance to the building there is a lady about five feet five inches tall with light brown shoulder length hair wearing a cowgirl outfit, standing behind a booth, checking Identification to ensure everyone who enters is at least twenty one years of age, and also collecting the entrance fee from each person. She’s talking with a fake country accent that helps add character to her costume. Her personality is bubbly and welcoming; it sets the tone for what the atmosphere is inside the building. There is another person at the entrance, a man standing beside her he is tall about six foot five or so, he has short brown hair and is wearing a uniform...