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Leadership, Coordination and Mission-Driven Management

Bolton, Patrick - 2008

What makes a good leader? A good leader is able to coordinate his followers around a credible mission statement, which communicates the future course of action of the organization. In practice, leaders learn about the best course of action for the organization over time. While learning helps...

Persistent link: https://www.econbiz.de/10012464309

Does Education Reduce Wage Inequality? Quantile Regressions Evidence from Fifteen European Countries

Pereira, Pedro Telhado; Martins, Pedro S. - 2021

- the case of Portugal; 2) a positive but stable role of education in terms of inequality - Austria, Finland, France …, Ireland, Netherlands, Norway, Spain, Sweden, Switzerland, UK; 3) a neutral role - Denmark and Italy; and 4) a negative impact … - Germany and Greece. We thus find that in most countries dispersion in earnings increases with educational levels and that …

Persistent link: https://www.econbiz.de/10013321313

Incentive Pay and Bank Risk-Taking : Evidence from Austrian, German, and Swiss Banks

Efing, Matthias - 2014

incentive pay in the critical banking segments of treasury/capital market management and investment banking for 66 banks. We …

Persistent link: https://www.econbiz.de/10012458200

The Persistence of Miscalibration

Boutros, Michael - 2020

Using 14,800 forecasts of one-year S&P 500 returns made by Chief Financial Officers over a 12-year period, we track the individual executives who provide multiple forecasts to study how their beliefs evolve dynamically. While CFOs' return forecasts are systematically unbiased, their confidence...

Persistent link: https://www.econbiz.de/10012482230

Managerial Overconfidence and Corporate Policies

Ben-David, Itzhak - 2007

Miscalibration is a standard measure of overconfidence in both psychology and economics. Although it is often used in lab experiments, there is scarcity of evidence about its effects in practice. We test whether top corporate executives are miscalibrated, and whether their miscalibration impacts...

Persistent link: https://www.econbiz.de/10012464935

How much do firms pay as bribes and what benefits do they get? Evidence from corruption cases worldwide

Cheung, Yan Leung - 2012

We analyze a hand-collected sample of 166 prominent bribery cases, involving 107 publicly listed firms from 20 stock markets that have been reported to have bribed government officials in 52 countries worldwide during 1971-2007. We focus on the initial date of award of the contract for which the...

Persistent link: https://www.econbiz.de/10012460678

Motivational Goal Bracketing with Non-Rational Goals

Koch, Alexander K.; Nafziger, Julia - 2021

We provide a tractable model of motivational goal bracketing by a present-biased individual, extending previous work to show that the main insights from models with rational goals carry over to a setting with non-rational goals. Goals motivate because they serve as reference points that make...

Persistent link: https://www.econbiz.de/10013244262

Do Publicly Traded Corporations Act in the Public Interest?

Gordon, Roger H. - 1990

Models of corporate behavior normally assume that a firm acts in the interest of shareholders, and that shareholders care only about the returns they receive on the shares they own in that firm. But shareholders should also care about the effects of a manager's decisions on the value of shares...

Persistent link: https://www.econbiz.de/10012475732

The Contribution of Managers to Organizational Success : Evidence from German Soccer

Hentschel, Sandra - 2014

We study the impact of managers on the success of professional soccer teams using data from the German "Bundesliga". We evaluate the performance impact of individual managers by estimating regression models that include both team and manager fixed effects, where we are exploiting the high...

Persistent link: https://www.econbiz.de/10013045046

Time-Varying Fund Manager Skill

Kacperczyk, Marcin - 2011

Mutual fund managers can outperform the market by picking stocks or timing the market successfully. Previous work has estimated picking and timing skill, assuming that each manager is endowed with a fixed amount of each and found some evidence of picking skills and little evidence of timing...

Persistent link: https://www.econbiz.de/10012461042

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