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Alex Todd’s Comment on: Governance Problems in Closely-Held Corporations by Venky Nagar, Kathy Petroni, and Daniel Wolfenzon

Alex Todd’s Comment on:  Governance Problems in Closely-Held Corporations by Venky Nagar, Kathy Petroni, and Daniel Wolfenzon

I wonder to what extent these findings might be due to a tendency by widely held companies to externalize costs. I suspect that closely held firms (especially family businesses) tend more toward sustainable business practices and therefore choose to internalize more costs.

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