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Executive compensation and stock options : an inconvenient truth
Danthine, Jean-Pierre; Donaldson, John B. - 2008
to be incompatible with the fact that the bulk of many high-proffile managers' compensation is in the form of various …
Persistent link: https://www.econbiz.de/10003961700
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Move a little closer? : information sharing and the spatial clustering of bank branches
Qi, Shusen; Haas, Ralph de; Ongena, Steven; Straetmans, … - 2018 - This version: 27 February 2018
We study how information sharing between banks influences the geographical clustering of branches. A spatial oligopoly …
Persistent link: https://www.econbiz.de/10011875705
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Exchange Rate Pass-Through and Dynamic Oligopoly : An Empirical Investigation
Gross, Dominique M. - 1999
This paper explicitly takes into account the dynamic oligopolistic rivalry among source producers to evaluate the degree of exchange rate pass-through. Using recent time-series techniques for the case of imported automobiles in Switzerland, the results show that prices are strategic complements...
Persistent link: https://www.econbiz.de/10014400174
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The Size Distribution of Firms, Cournot, and Optimal Taxation
Gersovitz, Mark - 2006
Tax laws and administrations often treat different size firms differently. There is, however, little research on the consequences. As modeled here, oligopolists with different efficiencies determine the size distribution of firms. A government that maximizes a weighted sum of consumer surplus,...
Persistent link: https://www.econbiz.de/10014400189
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Competition vs. stability : oligopolistic banking system with run risk
Capelle, Damien - 2021
This paper develops a model where large financial intermediaries subject to systemic runs internalize the effect of their leverage on aggregate risk, returns and asset prices. Near the steady-state, they restrict leverage to avoid the risk of a run which gives rise to an accelerator effect. For...
Persistent link: https://www.econbiz.de/10012604798
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Director independence as strategic behavior
Wagner, Alexander F. (contributor) - 2007
This paper analyzes board independence and competence as distinct, but inextricably linked aspects of board effectiveness. Competent directors add shareholder value because they have better information about the quality of projects. While a CEO cares about shareholder value, he also wants his...
Persistent link: https://www.econbiz.de/10003550804
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Executive compensation : the view from general equilibrium
Danthine, Jean-Pierre (contributor);  … - 2007
firm to risk averse managers. The optimal contract has two main components: an incentive component corresponding to a non … and that maximizing the discounted sum of future dividends will be her objective. Linking managers' compensation to … overall economic performance is also required to make sure that managers use the appropriate stochastic discount factor to …
Persistent link: https://www.econbiz.de/10003550864
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Managerial Incentives and Financial Contagion
Chakravorti, Sujit - 2004
optimal portfolio strategies by fund managers. In emerging markets, dedicated managers outperforming a benchmark index and … global managers maximizing absolute returns lead to systematic interactions between asset prices, without asymmetric …
Persistent link: https://www.econbiz.de/10014404100
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Why do U.S. CEOs pledge their own company's stock?
Fabisik, Kornelia - 2019
Between 2007 and 2016, 7.6% of publicly listed U.S. firms disclosed that their CEOs had pledged company stock as collateral for a loan. On average, CEOs pledge 38% of their shares. The mean loan value is an economically sizeable $65 million. CEOs use the funds to either double down (6.0%), hedge...
Persistent link: https://www.econbiz.de/10012134769
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Why are firms with more managerial ownership worth less?
Fabisik, Kornelia; Fahlenbrach, Rüdiger; Stulz, René M.; … - 2018
Persistent link: https://www.econbiz.de/10011976932