Stock-based compensation is the standard solution to agency problems between shareholders and managers. In a dynamic … managers to work harder, it also induces them to hide any worsening of the firm's investment opportunities by following largely …-valued while managers hide the bad news to shareholders. We find that a firm-specific compensation package based on both stock and …

1990s by a sample of over 2000 middle-level managers from a large, established firm outside of manufacturing. Exercise …

Corporate managers who own a majority of the common stock in their company or who represent another firm owning such an … interest appear to be less constrained than managers of diffusely held firms, yet their power to harm minority shareholders …. Finally, there is little evidence that new organizational mechanisms have evolved to constrain managers who own large blocks …

countries such as the US, Canada, and Japan. Attempts are made to carry out the measurement based both on the accounting records … depreciation and before taxes is found to fluctuate around 10-11% without a persistent trend. For Canada, the indivi- dual company … Canada supple- mented by some unpublished data supplied by Statistics Canada suggest that the cost of capital in Canada is …

For more than a decade, the United States and Canada have been engaged in a rancorous dispute over trade in softwood … industry has sought to have countervailing duties imposed upon Canadian lumber imports. The U.S. interests argue that Canada … economy are tested. Capture Theory de-emphasizes the role of institutional settings of the kind at work here: The outcomes of …

The paper is a study of the price level and relative price effects of a policy to monetize gold and fix its price at a … gold standard and during the post-monetization period. The paper also explores the adjustments to fiat money which are … necessary to ensure that this type of gold monetization is non-inflationary. Finally, some conditions which produce a run on the …