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Banks in bad financial shape are more likely to appoint executive directors from the outside than those in good shape. It is, however, not clear whether all of these appointments necessarily lead to the desired turnaround. We analyze the performance effects of new board members with external...
Persistent link: https://www.econbiz.de/10011722661
Increasing the participation of women in top-level corporate boards is high on the agenda of policymakers. Yet, we know little about director appointment dynamics and the drivers and impediments of women appointments. This study builds on organizational and group-level behavior theories and...
Persistent link: https://www.econbiz.de/10014232704
Little is known about how socioeconomic characteristics of executive teams affect corporate governance in banking. Exploiting a unique dataset, we show how age, gender, and education composition of executive teams affect risk taking of financial institutions. First, we establish that age,...
Persistent link: https://www.econbiz.de/10009509092
Employment protection harms early-career employees without benefitting them in later career stages (Leonardi and Pica, 2013). We demonstrate that this pattern can result from employers exploiting na¨ıve present-biased employees. Employers offer a dynamic contract with low early-career wages,...
Persistent link: https://www.econbiz.de/10014476854
behavioural agency predictions, but can be reconciled with theory through a mixed gambles' lens. …
Persistent link: https://www.econbiz.de/10012109768
Persistent link: https://www.econbiz.de/10012623736
In this paper, we examine the macro-to-micro-transition of cluster externalities to firms and how it is affected by the …-to-micro-transition that evolves best in the case of broad firm-level capabilities and variety-driven externalities. Furthermore, the results … externalities and adequate firm-level combinative capabilities. In contrast to previous studies on this topic, the transition …
Persistent link: https://www.econbiz.de/10011985889
. We apply it to study optimal party structure and the decision of how (de)centralized candidate recruitment should be …. Parties are non-unitary actors and compete at the local markets over recruitment of competent candidates and local organizers … authoritarian and persistently "bad" leadership. Our model can be applied to other labor recruitment settings. …
Persistent link: https://www.econbiz.de/10014229853
We study the economic consequences of anti-loss trafficking rules, which disallow the use of loss carry-forwards as tax shield after a substantial ownership change. Using staggered changes to these rules, we find that limiting the transfer of tax losses reduces the number of M&As with...
Persistent link: https://www.econbiz.de/10014384444
We demonstrate how the incentives of firms that partially own their suppliers or customers to foreclose rivals depend on how the partial owner can extract profits from the target. Compared to a fully vertically integrated firm, a partial owner may obtain only a share of the target's profit but...
Persistent link: https://www.econbiz.de/10014541862