We systematically analyze how variations in board independence and ownership concentration and type affect corporate social performance (CSP). Drawing from the agency and stakeholder perspectives, we argue that recognizing differences in the distribution of costs and benefits to shareholders and...

Employment growth is strongly predicted by smaller average establishment size, both across cities and across industries within cities, but there is little consensus on why this relationship exists. Traditional economic explanations emphasize factors that reduce entry costs or raise...

In this paper, we design the optimal contract when two agents can collude under asymmetric information. They have correlated types, produce complementary inputs and are protected by limited liability. Therefore, a joint manipulation of reports allows them to internalize informational and...

I study the optimal project choice when the principal relies on the agent in charge of production for project evaluation. The principal has to choose between a safe project generating a fixed revenue and a risky project generating an uncertain revenue. The agent has private information about the...

Conventional financial accounting information is slanted in favour of certain economic interests. This paper argues in favour of accounting information capturing and showing relevant aspects of the economic-social situation, and of decision-making based on it allowing for decisions to be taken...

This paper proposes a managerial control tool that integrates risk in efficiency measures. Building on existing efficiency specifications, our proposal reflects the real banking technology and accurately models the relationship between desirable and undesirable outputs. Specifically, the...

Given the current economic environment, high-growth companies are particularly relevant for their contribution to employment generation and wealth. This paper discusses the results of a survey that was conducted in order to gain a deeper understanding of high-growth cooperatives through...

The mathematical representation of Brunswik’s lens model has been used extensively to study human judgment and provides a unique opportunity to conduct a meta-analysis of studies that covers roughly five decades. Specifically, we analyze statistics of the “lens model equation” (Tucker,...

When can a single variable be more accurate in binary choice than multiple sources of information? We derive analytically the probability that a single variable (SV) will correctly predict one of two choices when both criterion and predictor are continuous variables. We further provide analogous...

An important problem in descriptive and prescriptive research in decision making is to identify “regions of rationality,” i.e., the areas for which heuristics are and are not effective. To map the contours of such regions, we derive probabilities that heuristics identify the best of m...