In this article, we provide an interpretation for the voluntary independence requirements contained in the Italian Corporate Governance Code (Preda Code) checking them against a proxy for international best practice, the independence criteria provided in the EC Recommendation on non-executive...

In this paper we explain the prevalence of explicit contracts of employment, particularly those that embody high- rather than low-powered incentives and clauses that supersede the common law defaults. Our analysis is based on an understanding of two fundamental problems that arise when agency...

The final report of the public inquiry, National Workers' Compensation and Occupational Health and Safety Frameworks. Consistent with its terms of reference, the Commission had recommended a national workers’ compensation scheme to operate alongside those of the States and Territories to...

„h The overarching policy framework for resource use and management in Australia is Ecologically Sustainable Development (ESD). ESD requires decision-makers to take into account economic development, the environment and social factors in their decisions. „h Australian legislation has tended...

The purpose of this paper is to show that the common law governing the employment of labor makes the distinction not only between employee and independent contractor but also between managerial control and agency. The idea is that common law precedents govern workers who are employed and...

Agency costs are a cost of production, and firms that do a better job of minimizing these costs should exhibit better performance. This paper tests this hypothesis by calculating the performance elasticity of average employee hourly compensation for U.S. manufacturing firms. This elasticity...

Comment offrir à aux entreprises, en particulier les petites, une évaluation individualisée de leur qualité, leur permettant, d’une part, de mieux gérer leurs projets et leur développement et, d’autre part, de signaler leur qualité aux tiers, dont les banques. Le problème...

This article studies how equity ownership and corporate control were separated in the United States. Initially, railroads and industrial firms were tightly controlled by a few shareholders; this situation was altered in the 1890s by massive mergers and reorganizations, which allowed private...

Many interest rates are as volatile as exchange rates and thus represent an equally important source of risk for corporations. While this is true not only for financial institutions, but for other corporations as well, little is known about the interest rate exposure of nonfinancial firms....

Dans un article d’octobre 2001, Jensen souligne les limites opérationnelles de la théorie de la maximisation de la valeur et de la théorie des parties prenantes (Stakeholder theory). La complémentarité entre ces théories vient de l’affirmation que le bien être collectif n’est...