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Understanding Corporate Governance Through Learning Models of Managerial Competence
Hermalin, Benjamin; Weisbach, Michael S. - National Bureau of Economic Research (NBER) - 2014
A manager's shareholders, board of directors, and potential future employers are continually assessing his ability. A rich literature has documented that this insight has profound implications for corporate governance because assessment generates incentives (good and bad), introduces assorted...
Persistent link: https://www.econbiz.de/10010950722
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CEO Investment Cycles
Pan, Yihui; Wang, Tracy Yue; Weisbach, Michael S. - National Bureau of Economic Research (NBER) - 2013
This paper documents the existence of a CEO Investment Cycle, in which firms disinvest early in a CEO's tenure and increase investment subsequently, leading to "cyclical" firm growth in assets as well as in employment over CEO tenure. The CEO investment cycle occurs for both firings and...
Persistent link: https://www.econbiz.de/10010950835
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A Study of the Extent and Potential Causes of Alternative Employment Arrangements
Cappelli, Peter; Keller, JR - National Bureau of Economic Research (NBER) - 2012
The notion of regular, full-time employment as one of the defining features of the U.S. economy has been called into question in recent years by the apparent growth of alternative or "nonstandard" arrangements - part-time work, temporary help, independent contracting, and other arrangements....
Persistent link: https://www.econbiz.de/10010950863
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Who Says Yes When the Headhunter Calls? Understanding Executive Job Search Behavior
Hamori, Monika; Cappelli, Peter - National Bureau of Economic Research (NBER) - 2013
We examine an aspect of job search in the important context of executive-level jobs using a unique data set from a prominent executive search firm. Specifically, we observe whether or not executives pursue offers to be considered for a position at other companies. The fact that the initial call...
Persistent link: https://www.econbiz.de/10010951143
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Learning about CEO Ability and Stock Return Volatility
Pan, Yihui; Wang, Tracy Yue; Weisbach, Michael S. - National Bureau of Economic Research (NBER) - 2013
When there is uncertainty about a CEO's quality, news about the firm causes rational investors to update their … the news can cause an updated assessment of the CEO's quality, affecting expectations of his ability to generate future … cash flows. As a CEO's quality becomes known more precisely over time, the latter effect becomes smaller, lowering the …
Persistent link: https://www.econbiz.de/10010951298
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Forging a New Identity: The Costs and Benefits of Diversity in Civil War Combat Units for Black Slaves and Freemen
Costa, Dora L.; Kahn, Matthew E. - National Bureau of Economic Research (NBER) - 2004
By the end of the Civil War, 186,017 black men had fought for the Union Army and roughly three-quarters of these men were former slaves. Because most of the black soldiers who served were illiterate farm workers, the war exposed them to a much broader world. The war experience of these men...
Persistent link: https://www.econbiz.de/10005084617
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Do "High Performance" Work Practices Improve Establishment-Level Outcomes?
Neumark, David; Cappelli, Peter - National Bureau of Economic Research (NBER) - 1999
Interest in the potential effects of different systems for organizing work and managing employees on the performance of organizations has a long history in the social sciences. The interest in economics, arguably more recent, reflects a general concern about the sources of competitiveness in...
Persistent link: https://www.econbiz.de/10005085025
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Who Lives in the C-Suite? Organizational Structure and the Division of Labor in Top Management
Guadalupe, Maria; Li, Hongyi; Wulf, Julie - National Bureau of Economic Research (NBER) - 2012
This paper shows that top management structures in large US firms radically changed since the mid-1980s. While the number of managers reporting directly to the CEO doubled, the growth was driven primarily by functional managers rather than general managers. Using panel data on senior management...
Persistent link: https://www.econbiz.de/10009493265
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Managing the Family Firm: Evidence from CEOs at Work
bandiera, oriana; Sadun, Raffaella; Prat, Andrea - National Bureau of Economic Research (NBER) - 2013
CEOs affect the performance of the firms they manage, and family CEOs seem to weaken it. Yet little is known about what top executives actually do, and whether it differs by firm ownership. We study CEOs in the Indian manufacturing sector, where family ownership is widespread and the...
Persistent link: https://www.econbiz.de/10010721448
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Modern Management: Good for the Environment or just Hot Air?
bloom, nicholas; Martin, Ralf; Sadun, Raffaella; … - National Bureau of Economic Research (NBER) - 2008
We use an innovative methodology to measure management practices in over 300 manufacturing firms in the UK. We then match this management data to production and energy usage information for establishments owned by these firms. We find that establishments in better managed firms are significantly...
Persistent link: https://www.econbiz.de/10005718073