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Gender Quotas : Challenging the Boards, Performance, and the Stock Market

Ferrari, Giulia - 2016

In 2011, Italy introduced gender quotas for boards of directors of companies listed on its stock market. Comparing … the stock price reaction to the introduction of gender quotas. A positive effect of the quota law on stock market returns … emerges at the date of the board's election. Our results are consistent with gender quotas giving rise to a beneficial …

Persistent link: https://www.econbiz.de/10012979668

Corporate Governance Reforms, Interlocking Directorship Networks and Company Value in Italy (1998-2007)

Drago, Carlo; Millo, Francesco; Ricciuti, Roberto; … - 2021

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/10013316103

Voting in Corporate Boards with Heterogeneous Preferences

Balduzzi, Paolo - 2011

We analyze the voting behavior of a board of directors that has to approve (or reject) an investment proposal with uncertain return. We consider three types of directors: insiders, who are biased toward acceptance of the project, independent outsiders who want to maximize the firm's profit and...

Persistent link: https://www.econbiz.de/10013130415

Market Competition or Family Ties : Which Prevails on Italian CEOs Pay?

Graziano, Clara - 2015

The paper analyzes the interplay of product market competition and governance on CEO compensation in Italian listed firms from 2000 to 2011 and tests the impact of the 2007-08 financial crisis on pay-performance sensitivity. We argue that important differences both in the level of compensation...

Persistent link: https://www.econbiz.de/10013020525

Optimal Delegation when the Large Shareholder has Multiple Tasks

Graziano, Clara; Luporini, Annalisa - CESifo - 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/10008596583

How Weak is the Weakest-Link Principle?On the Measurement of Firm Owners’Control Rights

Edwards, Jeremy; Weichenrieder, Alfons - CESifo - 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/10005196258

Politics-Business Interaction Paths

Belloc, Marianna; Pagano, Ugo - CESifo - 2009

Most pre-crisis explanations of the various corporate governance systems have considered the separation between ownership and control to be an advantage of the Anglo-American economies. They have also attributed the failure of other countries to achieve these efficient arrangements to their...

Persistent link: https://www.econbiz.de/10008572479

Diversity, Social Goods Provision, and Performance in the Firm

Ellison, Sara Fisher - 2014

The last decade has seen a growing interest among economists on the effect of diversity on the provision of social goods and the stock of social capital. Indeed, in the workplace, cooperation, trust, and other social goods may be important elements of the smooth functioning of an office, but...

Persistent link: https://www.econbiz.de/10013069250

Team Production, Gender Diversity, and Male Courtship Behavior

von Siemens, Ferdinand - 2015

This theoretical paper explores the impact of gender diversity on team production. The key assumption is that men … derive utility from signaling high ability to female colleagues. The analysis shows that some gender diversity maximizes … behavior of male team members, gender diversity has the biggest effects in young teams, and monetary incentives crowd-out the …

Persistent link: https://www.econbiz.de/10013024701

Incorporation and Taxation : Theory and Firm-Level Evidence

Egger, Peter H. - 2009

This paper provides a theory and firm-level evidence on the incorporation decision of entrepreneurs in a model of taxes and corporate governance. The theory explains how the incorporation decision of entrepreneurs is driven by taxation (corporate and personal income taxes), corporate...

Persistent link: https://www.econbiz.de/10013158386

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