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Caselli, Francesco - 2003

Dynastic management is the inter-generational transmission of control over assets that is typical of family-owned firms …. It is pervasive around the World, but especially in developing countries. We argue that dynastic management is a … incidence of dynastic management depends on the severity of asset-market imperfections, on the economy's saving rate, and on the …

Persistent link: https://www.econbiz.de/10012469259

Constraints on Large-Block Shareholders

Holderness, Clifford G. - 1998

that the law constrains managerial majority shareholders, both in their day-to-day management and when they redeem the …

Persistent link: https://www.econbiz.de/10012472048

The Impacts of Managerial Autonomy on Firm Outcomes

Kala, Namrata - 2019

The allocation of decision rights within organizations influences resource allocation, expansion decisions, and ultimately outcomes. Using a newly constructed dataset, I estimate the effects of an earned autonomy program for State Owned Enterprises (SOEs) in India. The program gave managers (the...

Persistent link: https://www.econbiz.de/10012480249

The Effect of Managers on Systematic Risk

Schoar, Antoinette - 2020

Tracking the movement of top managers across firms, we document the importance of manager-specific fixed effects in explaining heterogeneity in firm exposures to systematic risk. These differences in systematic risk are partially explained by managers' corporate strategies, such as their...

Persistent link: https://www.econbiz.de/10012481342

Enjoying the Quiet Life : Corporate Decision-Making by Entrenched Managers

Ikeda,, Naoshi - 2017

In this study, we empirically test "quiet life hypothesis," which predicts that managers who are subject to weak monitoring from the shareholders avoid making difficult decisions such as risky investment and business restructuring with Japanese firm data. We employ cross-shareholder and stable...

Persistent link: https://www.econbiz.de/10012453907

Firms’ Management of Infrequent Shocks

Collier, Benjamin L. - 2016

We examine businesses' financial management of a rare, severe event using detailed firm-level data collected following …

Persistent link: https://www.econbiz.de/10012456067

Do Well Managed Firms Make Better Forecasts?

Bloom, Nicholas; Kawakubo, Takafumi; Meng, Charlotte; … - National Bureau of Economic Research - 2021

We link a new UK management survey covering 8,000 firms to panel data on productivity in manufacturing and services …. There is a large variation in management practices, which are highly correlated with productivity, profitability and size …

Persistent link: https://www.econbiz.de/10012794618

Time-Varying Fund Manager Skill

Kacperczyk, Marcin - 2011

Mutual fund managers can outperform the market by picking stocks or timing the market successfully. Previous work has estimated picking and timing skill, assuming that each manager is endowed with a fixed amount of each and found some evidence of picking skills and little evidence of timing...

Persistent link: https://www.econbiz.de/10012461042

Shaped by Booms and Busts : How the Economy Impacts CEO Careers and Management Styles

Schoar, Antoinette - 2011

We show that economic conditions when managers enter the labor market have long-run effects on their career paths and managerial styles. Managers who began their careers during recessions become CEOs more quickly, but at smaller firms. They also have more conservative styles, such as lower...

Persistent link: https://www.econbiz.de/10012461067

Behavioral Corporate Finance : An Updated Survey

Baker, Malcolm - 2011

We survey the theory and evidence of behavioral corporate finance, which generally takes one of two approaches. The market timing and catering approach views managerial financing and investment decisions as rational managerial responses to securities mispricing. The managerial biases approach...

Persistent link: https://www.econbiz.de/10012461325