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CEO and Board Characteristics as Determinants of Private Benefits of Control: Evidence from the Russian Stock Exchange

Berezinets, Irina; Ilina, Yulia; Muravyev, Alexander - Institute for the Study of Labor (IZA) - 2011

relationship between private benefits of control and CEO ownership with a minimum at about 4% CEO ownership, a positive association … between CEO tenure and private benefits, and a quadratic in CEO age with a dip in private benefits at about 52 years of age …

Persistent link: https://www.econbiz.de/10009416954

On the Determinants of Pay of CEOs in UK Public Sector Higher Education Institutions

Bachan, Ray - Institute for the Study of Labor (IZA) - 2008

explanation for the determination of CEO pay in this labour market. …

Persistent link: https://www.econbiz.de/10005703830

Foreign Investment, Corporate Ownership, and Development: Are Firms in Emerging Markets Catching Up to the World Standard?

Sabirianova Peter, Klara; Svejnar, Jan; Terrell, Katherine - Institute for the Study of Labor (IZA) - 2005

Economic development implies that the efficiency of firms in developing countries is approaching that of firms in advanced economies. We examine the extent of this convergence in the Czech Republic and Russia, economies that represent alternative models of implementing development policies,...

Persistent link: https://www.econbiz.de/10005703404

Privatization and Productivity in Romanian Industry: Evidence from a Comprehensive Enterprise Panel

Earle, John S.; Telegdy, Álmos - Institute for the Study of Labor (IZA) - 2001

describe the post-privatization ownership structure and to test the effect of alternative privatization policies on firm … significant effect of private ownership share on the level and growth of labor productivity, the estimates ranging from 13 to 32 …

Persistent link: https://www.econbiz.de/10005566810

Contracting with Private Information

Hagedorn, Marcus - Institute for the Study of Labor (IZA) - 2003

-post bargaining. Optimal ownership structures are characterized and a new role for option contracts is identified. …

Persistent link: https://www.econbiz.de/10005762029

Legal Corruption, Politically Connected Corporate Governance and Firm Performance

Domadenik, Polona; Prašnikar, Janez; Svejnar, Jan - Institute for the Study of Labor (IZA) - 2014

In this paper we present and test a theory of how political corruption, found in many transition and emerging market economies, affects corporate governance and productive efficiency of firms. Our model predicts that underdeveloped democratic institutions that do not punish political corruption...

Persistent link: https://www.econbiz.de/10010884312

Say Pays! Shareholder Voice and Firm Performance

Cuñat, Vicente; Giné, Mireia; Guadalupe, Maria - Institute for the Study of Labor (IZA) - 2014

levels and structure. This suggests that SoP serves as a regular vote of confidence on the CEO, which leads to higher …

Persistent link: https://www.econbiz.de/10010959767

What Explains the Rise in CEO Pay in Germany? A Panel Data Analysis for 1977-2009

Fabbri, Francesca; Marin, Dalia - Institute for the Study of Labor (IZA) - 2012

work for. We reject, however, the efficient pay hypothesis as CEO pay and the demand for managers increases in Germany in … for performance and that the great recession of 2009 acted as a disciplining devise on CEO pay in Germany. …

Persistent link: https://www.econbiz.de/10011279348

Social Networks in the Boardroom

Kramarz, Francis; Thesmar, David - Institute for the Study of Labor (IZA) - 2006

the firm employing them. We first find a very strong and robust correlation between the CEO's network and that of his … hire directors from particular networks, irrespective of the CEO's identity. We then show that the governance of firms run … by former civil servants is relatively worse on many dimensions. Former civil servants are less likely to leave their CEO …

Persistent link: https://www.econbiz.de/10005703530

Rhineland Exit?

Bovenberg, Lans; Teulings, Coen - Institute for the Study of Labor (IZA) - 2008

We argue in favour of the shareholder model of the firm for three main reasons. First, serving multiple stakeholders leads to ill-defined property rights. What sounds like a fair compromise between stakeholders can easily evolve in a permanent struggle between the stakeholders about the ultimate...

Persistent link: https://www.econbiz.de/10005822066