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Corporate Deductibility Provisions and Managerial Incentives

Koethenbuerger, Marko - 2014

findings suggest that, when managers engage in wasteful capital expenditures, welfare may decline if the cost of investment is …

Persistent link: https://www.econbiz.de/10013060519

Opt in Versus Opt Out : A Free-Entry Analysis of Privacy Policies

Degryse, Hans - 2006

There is much debate on how the flow of information between firms should be organized, and whether existing privacy laws should be amended. We offer a welfare comparison of the three main current policies towards consumer privacy - anonymity, opt in, and opt out - within a two-period model of...

Persistent link: https://www.econbiz.de/10012779192

CEO Preferences and Acquisitions

Jenter, Dirk - 2011

This paper explores the impact of target CEOs' retirement preferences on the incidence, the pricing, and the outcomes of takeover bids. Mergers frequently force target CEOs to retire early, and CEOs' private merger costs are the forgone benefits of staying employed until the planned retirement...

Persistent link: https://www.econbiz.de/10013117262

The Diffusion of Knowledge Via Managers' Mobility

Mion, Giordano - 2017

Better managers and managerial practices lead to better firm performance. Yet, little is known about what happens when … managers move across firms. Does a firm hiring a good manager improve its performance? If yes is there some valuable knowledge …-invariant ability of the manager as well as overall firm performance. We find that the export experience gained by managers in previous …

Persistent link: https://www.econbiz.de/10012964189

Globalization and Executive Compensation

Keller, Wolfgang - 2017

This paper identifies globalization as a factor behind the rapid increase in executive compensation and inequality over the last few decades. Employing comprehensive data on top executives at major U.S. companies, we show that compensation is higher at more global firms. We find that pay...

Persistent link: https://www.econbiz.de/10012942995

Gift Exchange in the Workplace : Money or Attention?

Dur, Robert - 2009

convinced that their manager cares for them. Managers can signal their altruistic feelings towards their employees in two ways … altruistic managers may offer lower wages and nevertheless build up better social-exchange relationships with their employees … than egoistic managers do. In such equilibria, a low wage signals to employees that the manager has something else to offer …

Persistent link: https://www.econbiz.de/10012765691

Disentangling Managerial Incentives from a Dynamic Perspective : The Role of Stock Grants

Hili, Amal - 2016

We analyze the optimal contract between a risk-averse manager and the initial shareholders in a two-period model where the manager's investment effort, carried out in period 1, and her current effort, carried out in period 2, both impact the second-period profit, so that it may be difficult to...

Persistent link: https://www.econbiz.de/10012979660

The Efficiency Costs of Dividend Taxation with Managerial Firms

Koethenbuerger, Marko - 2015

The paper analyzes the efficiency costs of dividend taxation in an effort-based corporate agency model in which non-verifiable managerial effort enhances taxable profits. We show that investment changes following a rise in dividend taxes might not be sufficient to infer the efficiency cost of...

Persistent link: https://www.econbiz.de/10013011653

Do Leaders Affect Ethical Conduct?

D'Adda, Giovanna - 2014

We study whether leaders influence the unethical conduct of followers. To avoid selection issues present in natural environments, we use a laboratory experiment in which we form groups and assign leadership roles at random. We study an environment in which groups compete, with dishonest behavior...

Persistent link: https://www.econbiz.de/10013048821

A Theory of Tax Avoidance -- Managerial Incentives for Tax Planning in a Multi-Task Principal-Agent Model

Ewert, Ralf - 2014

We derive determinants of tax avoidance by means of a multi-task principal-agent model. We extend prevailing models by integrating both corporate and individual income taxation as well as by including tax planning effort in the agent's action portfolio. Our model shows novel and apparently...

Persistent link: https://www.econbiz.de/10013051278