work for. We reject, however, the efficient pay hypothesis as CEO pay and the demand for managers increases in Germany in … difficult times when the typical firm size shrinks. We find further that domestic and global competition for managers has …

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 …

managers between countries whereas in the second scenario relocation possibilities exist. Our findings show that the effort …

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

result of powerful managers setting their own pay. Others interpret high pay as the result of optimal contracting in a …