power approach suggests that boards do not operate at arm’s length in devising executive compensation arrangements; rather …

. Boards of publicly traded companies with dispersed ownership, we argue, cannot be expected to bargain at arm’s length with …

In a study of the ownership of German corporations, we find a strong relation between board turnover and corporate … performance, little association between concentrations of ownership with managerial disciplining and only limited evidence that … pyramid structures can be used for control purposes. The static relation of ownership to control in Germany is therefore …

determinants of block premia. A sample of transactions from Poland is used to measure benefits and costs of ownership concentration …

We test under what circumstances boards discipline managers and whether such interventions improve performance. We … with detailed ‘hard’ information about the board’s performance expectations and ‘soft’ information about board and CEO … actions and the board’s beliefs about CEO competence in 473 mostly private-sector companies backed by private equity funds …

The purpose of this Paper is to study the determinants of the concentration of ownership in a privatized, regulated … utilities are large firms with professional management: there is a separation between ownership and control. The agency costs of … corporate ownership, and more specifically the degree of shareholder concentration. Another, related issue, to be addressed is …

workers’ pay. CEOs with more control pay their workers more, but financial incentives through ownership of cash flow rights … relations with certain workers. More generally, our results show that managerial ownership and corporate governance can play an …