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Behavioral Finance in Corporate Governance - Independent Directors, Non-Executive Chairs, and the Importance of the Devil's Advocate

Morck, Randall - 2004

The Common Law, parliamentary democracy, and academia all institutionalize dissent to check undue obedience to authority; and corporate governance reformers advocate the same in boardrooms. Many corporate governance disasters could often be averted if directors asked hard questions, demanded...

Persistent link: https://www.econbiz.de/10012468049

Do Managerial Objectives Drive Bad Acquisitions?

Morck, Randall - 1989

the announcement day return of bidding firms. The returns to bidding shareholders are lower when their firm diversifies …, when it buys a rapidly growing target , and when the performance of its managers has been poor before the acquisition …. These results are consistent with the proposition that managerial rather than shareholders' objectives drive bad …

Persistent link: https://www.econbiz.de/10012476048

CEO Pay and the rise of Relative Performance Contracts : A Question of Governance?

Bell, Brian - 2016

responds more to increases in shareholders' return performance than to decreases. Further, this asymmetry is stronger when …

Persistent link: https://www.econbiz.de/10012456270

The Effect of Unions on Employment : Evidence from an Unnatural Experiment in Uruguay

Cassoni, Adriana - 2000

This study examines the impact of unions on wages and employment using data from Uruguay in a period where unions were banned (1973-1984), then legalized with tripartite bargaining (1984-1991) followed by industry-wide or firm-specific bargaining (1992-1997). The relationship between wages and...

Persistent link: https://www.econbiz.de/10012471275

Unions and Job Security in the Public Sector

Allen, Steven G. - 1986

This study examines the effect of unions on job security in the public and private sectors. Despite much lower unemployment rates for public than private sector workers, once one controls for differences in worker and job characteristics, the odds of being unemployed are identical for nonunion...

Persistent link: https://www.econbiz.de/10012476961

Can Union Labor Ever Cost Less?

Allen, Steven G. - 1986

This paper examines the effect of unions on efficiency by estimating cost function systems over three different sets of construction projects. The results show that union contractors have greater economies of scale. This gives them a cost advantage in large commercial office buildings, but in...

Persistent link: https://www.econbiz.de/10012477051

Union Work Rules and Efficiency in the Building Trades

Allen, Steven G. - 1985

This paper estimates the effect of union work rules in the building trades on employment and costs by comparing factor demand elasticities for union and nonunion contractors and subcontractors over micro data from two different types of construction. The results show that the elasticities of...

Persistent link: https://www.econbiz.de/10012477346

Unions, Pension Wealth, and Age-Compensation Profiles

Allen, Steven G. - 1985

This paper examines the effect of unions on both the magnitude and distribution of pension benefits. Our empirical results show that beneficiaries in collectively bargained plans receive larger benefits when they retire, receive larger increases in their benefits after they retire, and retire at...

Persistent link: https://www.econbiz.de/10012477403

The Effect of Unionism on Productivity in Privately and Publicly Owned Hospitals and Nursing Homes

Allen, Steven G. - 1985

This paper examines the effect of unions on productivity within a sample of publicly and privately owned hospitals and nursing homes to determine whether public ownership influences union behavior. The results show that the productivity of union contractors is much greater in private than in...

Persistent link: https://www.econbiz.de/10012477431

Unionization and Productivity in Office Building and School Construction

Allen, Steven G. - 1983

This paper examines the difference in productivity between union and nonunion contractors in the construction industry over a sample of 83 commercial office buildings and another sample of 68 elementary and secondary schools. The popular belief that the building trades unions reduce productivity...

Persistent link: https://www.econbiz.de/10012477962