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Do Entrenched Managers Pay Their Workers More?

Svaleryd, helena - Institutet för Näringslivsforskning (IFN) - 2005

find that entrenched managers pay their workers more. For example, our estimates show that CEOs with more control rights … as evidence of agency problems between shareholders and managers affecting workers’ pay. The findings do not appear to be … with an agency model in which entrenched managers pay high wages because they come with private benefits, such as lower …

Persistent link: https://www.econbiz.de/10005645442

The Effects of Internationalization on CEO Compensation

Oxelheim, Lars; Randoy, Trond - Institutet för Näringslivsforskning (IFN) - 2004

This study examines the relation between the internationalization of firms and CEO compensation. Starting from a sample of Norwegian and Swedish listed firms we analyze the effects of internationalization as manifest in the capital market (international cross-listing), the market for corporate...

Persistent link: https://www.econbiz.de/10005645393

On the Internationalization of Corporate Boards

Oxelheim, Lars; Gregori, Aleksandra; Randøy, Trond; … - Institutet för Näringslivsforskning (IFN) - 2013

Despite the global reach of their commercial activities, many multinational firms have proved slow in internationalizing their boards of directors. Based on a panel study of the internationalization of the boards of 347 non-financial firms from the Nordic countries, we find a higher fraction of...

Persistent link: https://www.econbiz.de/10010818485

Why Event Studies Do Not Detect Anti-Competitive Mergers.

Fridolfsson, S.-O.; Stennek, J. - Institutet för Näringslivsforskning (IFN) - 2000

Anticompetitive mergers increase competitors' profits, since they reduce competition. Using a model of endogenous mergers, we show that such mergers nevertheless may reduce the competitors' share-prices. Thus, event-studies can not detect anti-competitive mergers.

Persistent link: https://www.econbiz.de/10005639320

Why Event Studies Do Not Detect Anti-Competitive Mergers

Fridolfsson, Sven-Olof; Stennek, Johan - Institutet för Näringslivsforskning (IFN) - 2000

Persistent link: https://www.econbiz.de/10005645370

Industry Concentration and Welfare - On the Use of Stock Market Evidence from Horizontal Mergers

Fridolfsson, Sven-Olof; Stennek, Johan - Institutet för Näringslivsforskning (IFN) - 2006

There is diverging empirical evidence on the competitive effects of horizontal mergers: consumer prices (and thus presumably competitors' profits) often rise while competitors' share prices fall. Our model of endogenous mergers provides a possible reconciliation. It is demonstrated that...

Persistent link: https://www.econbiz.de/10005645428

Private Equity, Layoffs, and Job Polarization

Olsson, Martin; Tåg, Joacim - Institutet för Näringslivsforskning (IFN) - 2015

Although private equity firms are often criticized for layoffs, little evidence exists regarding which employees lose their jobs and why. We argue that explanations for the job polarization process can also explain layoffs after buyouts. Buyouts reduce agency problems, which triggers automation,...

Persistent link: https://www.econbiz.de/10011262892

Private Equity and Employees

Olsson, Martin; Tåg, Joacim - Institutet för Näringslivsforskning (IFN) - 2012

Using linked employer-employee data from Sweden, a difference-in-difference approach, and 201 private equity buyouts undertaken between 1998 and 2004, we show that unemployment risk declines and labor income increases for employees in the wake of a private equity buyout. Unemployment risk...

Persistent link: https://www.econbiz.de/10010538870

What Can International Finance Add to International Strategy?

Oxelheim, Lars; Randoy, Trond; Stonehill, Arthur - Institutet för Näringslivsforskning (IFN) - 2011

This chapter focuses on the role of corporate financial strategies to improve firms’ market valuations, and thus lower their cost of capital. The identification of successful strategies is accomplished within an overall strategic framework and related to how the firm perceives the degree of...

Persistent link: https://www.econbiz.de/10009386418

The CFO’s Information Challenge in Managing Macroeconomic Risk

Oxelheim, Lars; Wihlborg, Clas; Thorsheim, Marcus - Institutet för Näringslivsforskning (IFN) - 2010

In this chapter we examine the role of the CFO in setting risk management strategy with respect to macroeconomic risk, in particular, and we consider the information requirements for setting a strategy that is consistent with corporate objectives. We argue that macroeconomic risk management...

Persistent link: https://www.econbiz.de/10008548992