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Career Concerns of Top Executives, Managerial Ownership and CEO Succession

Boyer, M. Martin; Molina, Hernan Ortiz - Centre Interuniversitaire de Recherche en Analyse des … - 2004

We model the portfolio decisions by managers with career concerns in a context where ownership of the firm's stock can affect the outcome of promotion contests. In addition to their utility from wealth, such managers derive utility from the monetary and non-monetary benefits (prestige) of...

Persistent link: https://www.econbiz.de/10005100819

Directors' and Officers' Insurance and Shareholders' Protection

Boyer, M. Martin - Centre Interuniversitaire de Recherche en Analyse des … - 2003

Corporate directors are liable for the corporation's actions as well as their own. Strangely, and by far, the most likely plaintiffs in a lawsuit against corporate directors are the shareholders who appointed them in the first place. As a result, directors often require protection so that their...

Persistent link: https://www.econbiz.de/10005100862

Risk, Timing and Overoptimism in Private Placements and Public Offerings

Carpentier, Cécile; L'Her, Jean-François; Smith, Stephan - Centre Interuniversitaire de Recherche en Analyse des … - 2007

We examine whether risk, timing or mispricing hypotheses can explain the underperformance of private and public equity issuers, in Canada, where both categories share several common characteristics. Adding an investment risk factor to the TFPM reduces, but does not eliminate, the...

Persistent link: https://www.econbiz.de/10005100594

Methods of Pay and Earnings: A Longitudinal Analysis

Parent, Daniel - Centre Interuniversitaire de Recherche en Analyse des … - 1997

In this paper, I investigate the relationship between methods of pay, including piece rates and bonuses, and the level and variance of wages using longitudinal data from the NLSY (1988-1990). Results using OLS and fixed-effects show that piece rate workers earn a premium compared to other...

Persistent link: https://www.econbiz.de/10005100655

Rémunération à l'ancienneté et ajustement du marché du travail

Béjaoui, Ali; Montmarquette, Claude - Centre Interuniversitaire de Recherche en Analyse des … - 2008

The labour market's ability to adjust to the current demographic shock is a central concern for labour market policies. An aging population could affect the economy's ability to adjust, not only to the aging population shock itself, but also to those associated with the business cycle,...

Persistent link: https://www.econbiz.de/10005100857

Redesigning Teams and Incentives in a Merger: An Experiment with Managers and Students

Montmarquette, Claude; Rullière, Jean-Louis; Villeval, … - Centre Interuniversitaire de Recherche en Analyse des … - 2003

, which occur in both compensation incentives and team composition. The results of a real effort experiment conducted with …

Persistent link: https://www.econbiz.de/10005100880

When Piece Rates Work: More Lessons from the Cotton Mills

Huberman, Michael - Centre Interuniversitaire de Recherche en Analyse des … - 1995

Workers paid by the piece should in principle cooperate with new techniques that increase their output. In practice, however, firms seem unable to keep piece rates fixed, and when they cut rates workers often respond by restricting output. This paper investigates a case where in fact firms...

Persistent link: https://www.econbiz.de/10005101011

Redesigning Teams and Incentives: A Real Effort Experiment with Managers of a Merged Company

Montmarquette, Claude; Rullière, Jean-Louis; Villeval, … - Centre Interuniversitaire de Recherche en Analyse des … - 2002

influence of shifts occurring both in compensation incentives and in team composition. The results of a real effort experiment …

Persistent link: https://www.econbiz.de/10005101013

Voluntary Teaming and Effort

Keser, Claudia; Montmarquette, Claude - Centre Interuniversitaire de Recherche en Analyse des … - 2004

team effort. Although at least one of the players has the subgame perfect equilibrium strategy to choose remuneration based … on private effort, we frequently observe team remuneration chosen by both players. Team remuneration allows for high … player's effort. Due to significant cooperation we observe that in team remuneration participants make higher profits than in …

Persistent link: https://www.econbiz.de/10005101072

Environmental Audits and Incentive Compensation

Gabel, H. Landis; Sinclair-Desgagné, Bernard - Centre Interuniversitaire de Recherche en Analyse des … - 1994

This paper studies the link between environmental audits and employee compensation. The context is a one-period principal-agent relationship where the agent must allocate effort between financial and environmental tasks. The former are routinely monitored while the latter are audited (at some...

Persistent link: https://www.econbiz.de/10005101077

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