result of powerful managers setting their own pay. Others interpret high pay as the result of optimal contracting in a … relationship between pay and firm performance since the 1930s. Our review suggests that both managerial power and competitive …

the literature on executive pay: the manager power hypothesis and the efficient pay hypothesis. We find support for the … manager power hypothesis for Germany as executives tend to be rewarded when the sector is doing well rather than the firm they … work for. We reject, however, the efficient pay hypothesis as CEO pay and the demand for managers increases in Germany in …

We introduce a dynamic model that investigates the persistence and evolution of elite-dominated societies, where … exit options in the evolution of political inclusiveness across generations. An elite comparatively more mobile than the … generations. Exit options across different political entities lead to a joint evolution of local power structures. …

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 …

brightest managers to the public sector abound. This paper studies self-selection into managerial and non-managerial positions … return to managerial ability is always highest in the private sector. As a result, relatively many of the more able managers …

labor market for executives to theories based on excess of managerial power. Some of these hypotheses have found support in … with the evolution in executive pay and the market for managers during earlier time periods. A case study of General … managers …