We analyze competition between workers in a gift-exchange experiment where two workers are hired by the same employer …. In the competition treatment the two employees simultaneously choose their effort whereas in the baseline treatment … competition cannot occur since there is only one employee per employer. We find that in the competition treatment employers …

governance building on a large panel of European listed firms in the period 2003 to 2011. Focusing on executive turnover as an … indicator for effective monitoring, the findings reveal that outside directors and product market competition are substitutes …. Outsiders increase the performance-turnover sensitivity of executives exclusively if competition in the industry is relatively …

applications if competition in the market is low. This may indicate that restrictive monitoring and lower advising competences of … outside directors mitigate executives' incentives to innovate. In industries with effective competition, the negative …