directors and executive managers which may bring serious agency problem in the acquisition decision. The self-selection effect … compensation is more prominent for executive managers than board directors. As the executive managers as a whole, can benefit more … executive management positions as well as higher growth of executive compensation from aggressive acquisition than board …

We analyze the effects of CEOs' layoff risk on their risk choice while overseeing a firm. A CEO, whose managerial … ability is unknown, is fired if her expected ability is below average. Her risk choice changes the informativeness of output … and market's belief about her ability. She can decrease her layoff risk by taking excessive risk and trade off current …

-determinant for the successful IPO deal completion. We propose the Ledenyov theory on the origins of the IPO underpricing and long …

researchers pay a particular attention to banking governance. Specifically, shareholders-managers’ convergence of interests and … negative effect on performance. The results also reveal that managers lack control while the board of directors seems to exert …

fundamental dilemma in tournament theory. Individual prizes exhibit two major advantages - they allow the extraction of worker …

strategy in an R&D tournament situation. In the unique symmetric equilibrium, all firms delegate to overoptimistic managers … may serve as a substitute for delegation via contracts. By delegating to overoptimistic managers, firms can escape the rat …

histories we find wage effects of high involvement management (HIM) practices are generally positive and significant. However …