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Common ownership, competition, and top management incentives

Antón, Miguel; Ederer, Florian; Giné, Mireia; … - 2016

We show theoretically and empirically that executives are paid less for their own firm's performance and more for their rivals' performance if an industry's firms are more commonly owned by the same set of investors. Higher common ownership also leads to higher unconditional total pay. We...

Persistent link: https://www.econbiz.de/10011561142

Network utilities in the U.S. : sector reforms without privatization

Vogelsang, Ingo - 2004

experiences in other areas suggesting that competition could provide large benefits to hitherto regulated utilities in local …

Persistent link: https://www.econbiz.de/10011402612

Fair wages and human capital accumulation in a global economy

Kreickemeier, Udo - 2004

, the effects of a globalization shock modelled as the entry of newly industrializing countries into the trading world on …

Persistent link: https://www.econbiz.de/10011402411

Container trade and the U.S. recovery

Kilian, Lutz; Nomikos, Nikos K.; Zhou, Xiaoqing - 2021

Since the 1970s, exports and imports of manufactured goods have been the engine of international trade and much of that trade relies on container shipping. This paper introduces a new monthly index of the volume of container trade to and from North America. Incorporating this index into a...

Persistent link: https://www.econbiz.de/10012550202

Globalization and executive compensation

Keller, Wolfgang; Olney, William W. - 2017

This paper identifies globalization as a factor behind the rapid increase in executive compensation and inequality over … executive compensation, indicating that globalization is influencing compensation through pay-for-non-performance. Furthermore … firms with poor corporate governance, as one would expect if globalization has enhanced rent-capture opportunities. Overall …

Persistent link: https://www.econbiz.de/10011741873

Policy deviations, uncertainty, and the European Court of Justice

Hefeker, Carsten; Neugart, Michael - 2013

The implementation of European Union directives into national law is at the discretion of member states. We analyze incentives for member states to deviate from these directives when the European Commission may sue a defecting member state and rulings at the European Court of Justice (ECJ) are...

Persistent link: https://www.econbiz.de/10009722016

Does laboratory trading mirror behavior in real world markets? : fair bargaining and competitive bidding on EBay

Bolton, Gary E. (contributor); Ockenfels, Axel (contributor) - 2008

Persistent link: https://www.econbiz.de/10003647263

Learning from the past : trends in executive compensation over the twentieth century

Frydman, Carola (contributor) - 2008

In recent years, a large academic debate has tried to explain the rapid rise in CEO pay experienced over the past three decades. In this article, I review the main proposed theories, which span views of compensation as the result of a competitive labor market for executives to theories based on...

Persistent link: https://www.econbiz.de/10003790763

The dark side of international cross-listing : effects on rival firms at home

Melvin, Michael (contributor); Valero, Magali (contributor) - 2007

Persistent link: https://www.econbiz.de/10003624831

Exchange rate pass-through, domestic competition, and inflation : evidence from the 2005/08 revaluation of the Renminbi

Auer, Raphael A. - 2012

This paper quantifies the effect of the government-controlled appreciation of the Chinese renminbi (RMB) vis-à-vis the USD from 2005 to 2008 on the prices charged by US producers. As the RMB during that time was pegged to a basket of currencies, the empirical strategy must account for the fact...

Persistent link: https://www.econbiz.de/10009511759

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