In the related literature , however , takeovers and risk taking have been approached differently from the described approach . Amihud and Lev (1999 ) have contended that insiders ' employment income is significantly related to the firm 's performance . Thus , managers are confronted with risks associated with their income if the maintenance of that income is dependent on achieving predetermined performance targets . Reasonably , in the event of either corporate underperformance or firm failure , CEOs not only may lose their current employment income but also...











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