implementation leads to more delegation, but only if workers have high costs of obstructing informed decisions. We further find that …

agency bias we expect delegation to dominate. Controlling for economic and political factors, our empirical tests show that …

rigid, non discretionary contracts. Delegation grants some flexibility in the choice of the action by the agent, but also … play then an important role in determining the costs of delegation. The main focus of the paper lies indeed in the analysis … of these costs and the consequences for whether or not delegation is optimal. We determine and characterize the …

We analyze the optimal ownership, delegation and compensation structures when a manager is hired to run a firm and to …. Severance pay plays a key role in the optimal compensation scheme. Delegation is interpreted as a dual-board structure. …

established at the union-wide level. Furthermore, we show that fiscal delegation is more effective in restraining debt, and more …