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 …

monetary and non-monetary benefits (prestige) of running a corporation. Our theory predicts that top managers competing for the …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 …

finance: What determines corporate risk management practices? En tant que représentants de l'entreprise, les administrateurs … monitoring. Surprisingly, managerial risk aversion and financial distress do not seem to play important roles. Our results lead …

with managers from companies with different incentives, work habits and recruiting methods. In this paper, we investigate …, which occur in both compensation incentives and team composition. The results of a real effort experiment conducted with … managers within a large pharmaceutical company not only show that changes in compensation incentives affect performance but …

with managers originating from companies with different incentives and working habits. In this paper, we offer a new way to … influence of shifts occurring both in compensation incentives and in team composition. The results of a real effort experiment … conducted with managers within a large pharmaceutical company show that not only changes in compensation incentives affect …

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 …

risk on the agent, so the expected wage ex ante is higher and the agent's effort on the environmental task greater than in …