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Science Review, 100(1), 115-131.Aghion, Philip and Jean Tirole, 1997,  Real and Formal Authority in Organizations, Journal of Political Economy, Vol. 105, No.1, pp. 129.Burkart, Mike, Denis Gromb, and Fausto Panunzi, 1997,  Large Shareholders, Monitoring, and the Value of the Firm , The Quarterly Journal of Economics, Vol. 112, No. 3, pp. 693728.  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