managers and thus possibly making China's listed firms less effective in solving the agency problem. As such, ownership …

extent to which managers' compensation was affected by the economic crisis and the extent to which it increased afterwards … perspective. We also examine that certain parts of managers seem to have more power to influence their compensation than others …. Inequality in managers' compensation decreased during the crisis. …

work for. We reject, however, the efficient pay hypothesis as CEO pay and the demand for managers increases in Germany in … difficult times when the typical firm size shrinks. We find further that domestic and global competition for managers has …

We present evidence on the effect of social connections between workers and managers on productivity in the workplace … workers managed. We find that when managers are paid fixed wages, they favor workers to whom they are socially connected …