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Indirect Incentives of Hedge Fund Managers
Lim, Jongha - 2013
managers. Flows respond quickly and strongly to performance; lagged performance has a monotonically decreasing impact on flows … times as large as direct incentives from incentive fees and returns to managers' own investment in the fund. For new funds … generated for their investors in a given year, managers receive close to another dollar in direct performance fees plus the …
Persistent link: https://www.econbiz.de/10012459758
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Dynamic Oligopoly and Price Stickiness
Wang, Olivier - 2020
strategic effects of oligopoly from the effects this has on residual demand, we compare our model to one with monopolistic firms …
Persistent link: https://www.econbiz.de/10012481391
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Compensation Matters : Incentives for Multitasking in a Law Firm
Bartel, Ann - 2013
Due to the limited availability of firm-level compensation data, there is little empirical evidence on the impact of compensation plans on personal productivity. We study an international law firm that moves from high-powered individual incentives towards incentives for "leadership" activities...
Persistent link: https://www.econbiz.de/10012459249
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Risk, Ambiguity, and the Exercise of Employee Stock Options
Izhakian, Yehuda - 2014
We investigate the importance of ambiguity, or Knightian uncertainty, in executives' decisions about when to exercise stock options. We develop an empirical estimate of ambiguity and include it in regression models alongside the more traditional measure of risk, equity volatility. We show that...
Persistent link: https://www.econbiz.de/10012458689
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CEO-Firm Matches and Productivity in 42 Countries
Dahlstrand, Amanda; László, Dávid; Schweiger, Helena; … - National Bureau of Economic Research - 2025
to differentiate CEOs into "leaders" and "managers" in a survey of 4,800 manufacturing firms across 42 countries, with …
Persistent link: https://www.econbiz.de/10015194970
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Choosing the Federal Reserve Chair : Lessons from History
Romer, Christina D. - 2003
This paper uses the lessons of history to identify the sources of monetary policy successes and failures in the past and to suggest a strategy for choosing successful Federal Reserve chairs in the future. It demonstrates that since at least the mid-1930s, the key determinant of the quality of...
Persistent link: https://www.econbiz.de/10012468533
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Tips and Tells from Managers : How Analysts and the Market Read Between the Lines of Conference Calls
Druz, Marina - 2015
Stock prices react significantly to the tone (negativity of words) managers use on earnings conference calls. This …
Persistent link: https://www.econbiz.de/10012457675
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Fund Managers, Career Concerns, and Asset Price Volatility
Guerrieri, Veronica - 2009
We propose a model where investors hire fund managers to invest either in risky bonds or in riskless assets. Some … managers have superior information on the default probability. Looking at the past performance, investors update beliefs on … their managers and make firing decisions. This leads to career concerns which affect investment decisions, generating a …
Persistent link: https://www.econbiz.de/10012463750
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Leadership in Groups : A Monetary Policy Experiment
Blinder, Alan S. - 2007
In an earlier paper (Blinder and Morgan, 2005), we created an experimental apparatus in which Princeton University students acted as ersatz central bankers, making monetary policy decisions both as individuals and in groups. In this study, we manipulate the size and leadership structure of...
Persistent link: https://www.econbiz.de/10012465259
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Do Markets Care Who Chairs the Central Bank?
Kuttner, Kenneth N. - 2007
This paper assesses the effects of central bank governor appointments on financial market expectations of monetary policy. To measure these effects, we assemble a new dataset of appointment announcements from 15 countries, and conduct an event study analysis on exchange rates, bond yields, and...
Persistent link: https://www.econbiz.de/10012465553