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Risk Perceptions, Board Networks, and Directors' Monitoring
Ding, Wenzhi; Chen, Lin; Schmid, Thomas; Weisbach, … - National Bureau of Economic Research - 2021
What makes independent directors perform their monitoring duty? One possible reason is that they are worried about being sanctioned by regulators if they do not monitor sufficiently well. Using unique features of the Chinese financial market, we estimate the extent to which independent...
Persistent link: https://www.econbiz.de/10012585458
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Improving Management through Worker Evaluations : Evidence from Auto Manufacturing
Cai, Jing - 2020
Using a randomized experiment with an automobile manufacturing firm in China, we measure the effects of letting workers … evaluate their managers on worker and firm outcomes. In the treatment teams, workers evaluate their supervisors monthly. We … driven by changes in the behavior of managers and an overall better relationship between managers and workers …
Persistent link: https://www.econbiz.de/10012481228
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Can Bureaucrats Really Be Paid Like CEOs? School Administrator Incentives for Anemia Reduction in Rural China
Luo, Renfu - 2015
Unlike performance incentives for private sector managers, little is known about performance incentives for managers in … public sector bureaucracies. Through a randomized trial in rural China, we study performance incentives rewarding school …
Persistent link: https://www.econbiz.de/10012457365
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Changes in Managerial Pay Structures 1986-1992 and Rising Returns to Skill
O'Shaughnessy, K.C. - 2000
We examine the relationship between wages and skill requirements in a sample of over 50,000 managers in 39 companies …
Persistent link: https://www.econbiz.de/10012471020
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Federalism and Takeover Law : The Race to Protect Managers from Takeovers
Bebchuk, Lucian Arye - 2000
respect to takeovers, states have incentives to produce rules that excessively protect incumbent managers. The development of … policy basis, and, more importantly, they have provided managers with a wider and more open-ended latitude to engage in …
Persistent link: https://www.econbiz.de/10012471028
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Information Production and Capital Allocation : Decentralized vs. Hierarchical Firms
Stein, Jeremy C. - 2000
This paper assesses different organizational forms in terms of their ability to generate information about investment projects and allocate capital to these projects efficiently. A decentralized approach with small, single-manager firms is most likely to be attractive when information about...
Persistent link: https://www.econbiz.de/10012471056
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Managerial Value Diversion and Shareholder Wealth
Bebchuk, Lucian Arye - 2000
managers. We question this view within its own analytical framework by studying, in a principal-agent model, the effects of … diversion overlooks a significant cost of such behavior. Many common modes of compensation can provide managers with incentives …
Persistent link: https://www.econbiz.de/10012471137
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Taxes, High-Income Executives, and the Perils of Revenue Estimation in the New Economy
Goolsbee, Austan - 2000
This paper attempts to help explain the unforecasted, excess' personal income tax revenues of the last several years. Using panel data on executive compensation in the 1990s, it argues that because the gains on most stock options are treated as ordinary income for tax purposes, rising stock...
Persistent link: https://www.econbiz.de/10012471145
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Do CEOs Set Their Own Pay? The Ones Without Principals Do
Bertrand, Marianne - 2000
We empirically examine two competing views of CEO pay. In the contracting view, pay is used to solve an agency problem: the compensation committee optimally chooses pay contracts which give the CEO incentives to maximize shareholder wealth. In the skimming view, pay is the result of an agency...
Persistent link: https://www.econbiz.de/10012471166
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The Taxation of Executive Compensation
Hall, Brian J. - 2000
Over the past 20 years, there has been a dramatic increase in the share of executive compensation paid through stock options. In this paper, we examine the extent to which tax policy has influenced the composition of executive compensation, and discuss the implications of rising stock-based pay...
Persistent link: https://www.econbiz.de/10012471173