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Do Employees Benefit from Worker Representation on Corporate Boards?
Blandhol, Christine; Mogstad, Magne; Nilsson, Peter; … - 2021
from Norway. We find that a worker is paid more and faces less earnings risk if she gets a job in a firm with worker … representation on the corporate board. However, these gains in wages and declines in earnings risk are not caused by worker … representation per se. Instead, the wage premium and reduced earnings risk reflect that firms with worker representation are likely …
Persistent link: https://www.econbiz.de/10013314747
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Do Employees Benefit from Worker Representation on Corporate Boards?
Blandhol, Christine; Mogstad, Magne; Nilsson, Peter; … - 2020
from Norway. We find that a worker is paid more and faces less earnings risk if she gets a job in a firm with worker … representation on the corporate board. However, these gains in wages and declines in earnings risk are not caused by worker … representation per se. Instead, the wage premium and reduced earnings risk reflect that firms with worker representation are likely …
Persistent link: https://www.econbiz.de/10012425700
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Connected Lending of Last Resort
Mitchener, Kris James; Monnet, Eric - 2023
Because of secrecy, little is known about the political economy of central bank lending. Utilizing a novel, hand-collected historical daily dataset on loans to commercial banks, we analyze how personal connections matter for lending of last resort, highlighting the importance of governance for...
Persistent link: https://www.econbiz.de/10014290136
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Connected Lending of Last Resort
Mitchener, Kris James; Monnet, Eric - 2023
Because of secrecy, little is known about the political economy of central bank lending. Utilizing a novel, hand-collected historical daily dataset on loans to commercial banks, we analyze how personal connections matter for lending of last resort, highlighting the importance of governance for...
Persistent link: https://www.econbiz.de/10014262411
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Optimal delegation when the large shareholder has multiple tasks
Graziano, Clara; Luporini, Annalisa - 2010
We analyze the optimal ownership, delegation and compensation structures when a manager is hired to run a firm and to gather information on investment projects. The initial owner has two tasks: monitoring the manager and supervising project choice. Optimality would require a large ownership...
Persistent link: https://www.econbiz.de/10010270637
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Corporate governance reforms, interlocking directorship networks and company value in Italy (1998-2007)
Drago, Carlo; Millo, Francesco; Ricciuti, Roberto; … - 2011
In this paper we contribute to the literature on the structure of interlocking directorship networks and to the literature on the relationship between corporate governance and performance. We use a unique dataset made of corporate governance variables related to the board size and interlocking...
Persistent link: https://www.econbiz.de/10010274726
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Rhineland exit?
Bovenberg, Lans; Teulings, Coen N. - 2008
possible diversification of firm-specific risks. Diversification of firm-specific risk on capital markets is an efficient form …
Persistent link: https://www.econbiz.de/10010276828
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The positive economics of labor market rigidities and investor protection
Fehn, Rainer; Meier, Carsten-Patrick - 2001
This paper presents a positive model which shows that institutional setups on capital and labor markets might be intertwined by politicoeconomic forces. Some countries especially in continental Europe exhibit a corporatist politicoeconomic equilibrium with a sustantial protection of insiders on...
Persistent link: https://www.econbiz.de/10010316080
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How weak is the weakest-link principle? : On the measurement of firm owners' control rights
Weichenrieder, Alfons J.; Edwards, Jeremy S. S. - 2004
The paper argues that the weakest link principle, which has been widely used as a measure of ultimate owners? control rights, has a number of serious problems. A theoretically more satisfactory method of measuring control rights, based on voting power indices, is proposed, and the different...
Persistent link: https://www.econbiz.de/10010261241
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Ownership concentration, monitoring and optimal board structure
Graziano, Clara; Luporini, Annalisa - 2005
The paper analyzes the optimal structure of the board of directors in a firm with a large shareholder sitting on the board. In a one-tier structure the sole board performs all tasks, while in a two-tier structure the management board is in charge of project selection and the supervisory board is...
Persistent link: https://www.econbiz.de/10010261334