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Stock market returns, corporate governance and capital market equilibrium

Parigi, Bruno; Pelizzon, Loriana; Thadden, Ernst-Ludwig von - 2013

governance affects the disutility of managerial effort and the possibility of managers to divert company resources. It shows that …

Persistent link: https://www.econbiz.de/10010212666

CEO preferences and acquisitions

Jenter, Dirk; Lewellen, Katharina - 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/10009412377

How much sunlight does it take to disinfect a boardroom? : a short history of executive compensation regulation

Dew-Becker, Ian (contributor) - 2008

This paper reviews the history of executive compensation disclosure and other government policies affecting CEO pay, and as well surveys the literature on the effects of these policies. Disclosure has increased nearly uniformly since 1933. A number of other regulations, including special taxes...

Persistent link: https://www.econbiz.de/10003749481

Banking regulation and prompt corrective action

Freixas, Xavier (contributor); Parigi, Bruno (contributor) - 2007

Persistent link: https://www.econbiz.de/10003623813

All in the family or public? : law and appropriative costs as determinants of ownership structure

Castillo C., Ramón; Skaperdas, Stergios - 2003

associated with the conflict between managers and shareholders. To counteract this effect the managers/owners increase the share …

Persistent link: https://www.econbiz.de/10011507775

Utilities included : split incentives in commercial electricity contracts

Jessoe, Katrina; Papineau, Maya; Rapson, David - 2019

This paper quantifies a tenant-side "split incentives" problem that exists when the largest commercial sector customers are on electricity-included property lease contracts causing them to face a marginal electricity price of zero. We use exogenous variation in weather shocks to show that the...

Persistent link: https://www.econbiz.de/10012031116

Delegation of regulation

Kundu, Tapas; Nilssen, Tore - 2017

We develop a model to discuss a government's incentives to delegate to bureaucrats the regulation of an industry. The …-based regulation policy requires the government to make use of a bureaucracy; this has a bureaucratic cost, as the bureaucracy diverts … implications for when and how a government should delegate its regulation of industry. We find that bureaucratic discretion reduces …

Persistent link: https://www.econbiz.de/10011700470