Narrow search
Showing 1 - 10 of 3,431
Cover Image
Disentangling the Channels of the 2007-2009 Recession
Stock, James H. - 2012
This paper examines the macroeconomic dynamics of the 2007-09 recession in the United States and the subsequent slow recovery. Using a dynamic factor model with 200 variables, we reach three main conclusions. First, although many of the events of the 2007-2009 collapse were unprecedented, their...
Persistent link: https://www.econbiz.de/10012460565
Cover Image
Understanding the Determinants of Managerial Ownership and the Link Between Ownership and Performance
Himmelberg, Charles P. - 2000
Both managerial ownership and performance are endogenously determined by exogenous (and only partly observed) changes in the firm's contracting environment. We extend the cross-sectional results of Demsetz and Lehn (1985) and use panel data to show that managerial ownership is explained by key...
Persistent link: https://www.econbiz.de/10012471259
Cover Image
Benefits of Control, Managerial Ownership, and the Stock Returns of Acquiring Firms
Hubbard, R. Glenn - 1995
This paper examines the effect of the benefits of corporate control to managers on the relationship between managerial … the acquiring firm increases, the interests of managers are more closely aligned with those of shareholders, reducing the … acquisition premium. At sufficiently high levels of managerial ownership, managers value a reduction in the risk of their …
Persistent link: https://www.econbiz.de/10012473808
Cover Image
Do Managerial Objectives Drive Bad Acquisitions?
Morck, Randall - 1989
, when it buys a rapidly growing target , and when the performance of its managers has been poor before the acquisition …
Persistent link: https://www.econbiz.de/10012476048
Cover Image
The Politics of CEOs
Cohen, Alma - 2019
CEOs of public companies have influence over the political spending of their firms, which has been attracting significant attention since the Supreme Court decision in Citizens United. Furthermore, the policy views expressed by CEOs receive substantial consideration from policymakers and the...
Persistent link: https://www.econbiz.de/10012479765
Cover Image
Changes in Corporate Governance and Top Executive Turnover : The Evidence from Japan
Miyajima, Hideaki - 2017
We examine the turnover of top executives in Japanese firms throughout the period from 1990 to 2013. During this time, the presence of a main bank has been weakened, the ownership of institutional investors has dramatically increased, and independent outside directors have been introduced in...
Persistent link: https://www.econbiz.de/10012453899
Cover Image
Biased Monitors : Corporate Governance When Managerial Ability is Mis-assessed
Hermalin, Benjamin - 2017
An important aspect of corporate governance is the assessment of managers. When managers vary in ability, determining …
Persistent link: https://www.econbiz.de/10012453935
Cover Image
The Limitations of Stock Market Efficiency : Price Informativeness and CEO Turnover
Gorton, Gary B. - 2009
Stock prices are more informative when the information has less social value. Speculators with limited resources making costly (private) information production decisions must decide to produce information about some firms and not others. We show that producing and trading on private information...
Persistent link: https://www.econbiz.de/10012463704
Cover Image
Superstar CEOs
Malmendier, Ulrike - 2008
Compensation, status, and press coverage of managers in the U.S. follow a highly skewed distribution: a small number of …
Persistent link: https://www.econbiz.de/10012464506
Cover Image
CEO Centrality
Bebchuk, Lucian A. - 2007
We investigate the relationship between CEO centrality -- the relative importance of the CEO within the top executive team in terms of ability, contribution, or power -- and the value and behavior of public firms. Our proxy for CEO centrality is the fraction of the top-five compensation captured...
Persistent link: https://www.econbiz.de/10012464945