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 …

Between and within firms, work teams compete against each other and receive feedback on how well their team is … feedback (RPF) at team level. We find that when subjects work under team incentives, then RPF on team performance increases the … experiment suggests that top performers are particularly motivated by the combination of team incentives and team RPF. In fact …

Using a novel Hungarian dataset on firms and their Chief Executive Officers (CEOs), we estimate the impact of hiring … expatriate CEOs. By examining foreign acquisitions where the new owner replaces the incumbent CEO with an expatriate or a local … CEO, we address the selection into both acquisition and CEO hiring. Firms led by expatriate CEOs show 13 percent total …

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

of firm: high age of managers and board members is bad for innovation and productivity growth, while costs and benefits …

differentiated. Overall, the compensation of Italian CEOs is positively related to firm performance. Moreover, consistent with our … predictions, sensitivity is higher in competitive sectors and the difference between family and non-family CEOs disappear when … competition is tough. Family CEOs are significantly less paid than non-family CEOs and their pay is significantly related to firm …

We study the market for CEOs of large publicly-traded US firms, analyze new CEOs' prior connections to the hiring firm …% of new CEOs are insiders, defined as current or former employees or board members. Boards are already familiar with more … than 90% of new CEOs, as they are either insiders or executives who directors have previously worked with. There are few …

Large-scale increases in discrimination can lead to dismissals of highly qualified managers. We investigate how … expulsions of senior Jewish managers, due to rising discrimination in Nazi Germany, affected large corporations. Firms that lost … Jewish managers experienced persistent reductions in stock prices, dividends, and returns on assets. Aggregate market value …