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 …

between the past performance of firms measured by return on sales and return on assets, and the likelihood of managerial … ownership and supervisory board size, we do find significant entrenchments effects associated with ownership by managers …

an optimal response of the winner's prize to the size of the contestant pool is more evident for China's listed firms … to decide on the tournament winner). Using comprehensive financial and accounting data on China's listed firms from 1998 … effort and hence improved firm performance, and that the performance effect of the winner's prize is greater for China …

,300 employees. As a response to intensified product market competition, the firm offered a bonus to shop teams for surpassing sales … performance and relies on flexible task allocation among employees. On average, the team bonus increases sales and customer visits … bonus dollar an extra $3.80 of sales, and $2.10 of operational profit. The results show the importance of complementarities …

individual shops. We find that the announcements of the shop being sold to a new owner and being closed down reduce sales by six …