All that we know about the CEO labour market in China comes from studies of public listed companies and state …-owned enterprises (SOEs). This paper is the first to examine the operation of the CEO labour market across all sectors of the Chinese … are more likely to deploy incentive contracts. A picture emerges of a well-functioning labour market for executives in …

important feature in today's CEO labour market in China: around one-tenth of corporations deploy performance bonds and they are …

constraints on entry, but in addition it facilitates transfers of control of incumbent firms, from untalented to talented managers … deregulation, as it preserves incumbents’ rents, while at the same time allowing the less efficient among them to transfer control … supporting future deregulations. Generally speaking, our model suggests that “Coasian” reforms improving the scope of private …

We analyze the structure and evolution of the allocation of decision and control rights in venture capital contracts by … of control and decisions rights along three time dimensions: the point in time when the contract was signed, the expected … duration of the contract and the actual duration of the relationship. We show that contracts are not static but that control …

We present a model of efficient contracting with endogenous matching and limited monitoring in which firms compete for … CEOs. The model explains the association between limited monitoring and CEO pay practices such as pay-for-luck, high … compensation contracts. The model thus responds to some fundamental arguments of the managerial power perspective. …

means. We develop a model in which a CEO's ownership stake and private benefits have opposite effects on his willingness to … optimally commit to a low monitoring intensity when either CEO ownership is low or private benefits are high. Our model suggests … our model for the design and evaluation of governance structures. …

observable. For some distribution functions of clients' qualities, a competitive rating market is a necessary condition for this …