work on shareholders and shareholder activism, directors, executives and their compensation, controlling shareholders …

both managers and firms, and affects the contractual relationships between those parties in important ways. Assessment (or …

A manager's shareholders, board of directors, and potential future employers are continually assessing his ability. A …

-country differences in the levels of private benefits obtained by corporate managers, as well as the country-specific factors associated … discuss the circumstances under which managers would choose to cross-list their stocks in the United States, when such a cross …-listing has important implications for managers' private benefits. Finally, we survey recent empirical work that tests empirical …

Indirect incentives exist in the money management industry when good current performance increases future inflows of … managers. Flows respond quickly and strongly to performance; lagged performance has a monotonically decreasing impact on flows … times as large as direct incentives from incentive fees and returns to managers' own investment in the fund. For new funds …

's prospects. Overall, uncertainty about management quality appears to be an important source of stock return volatility …

with shareholders that provide incentives that motivate them to maximize the shareholders' welfare. In contrast, Bebchuk …