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Kramarz, Francis; Thesmar, David - 2006

This paper provides empirical evidence consistent with the facts that (1) social networks may strongly affect board composition and (2) social networks may be detrimental to corporate governance. Our empirical investigation relies on a unique dataset on executives and outside directors of...

Persistent link: https://www.econbiz.de/10010267612

Executive compensation, firm performance, and chaebols in Korea: evidence from new panel data

Kato, Takao; Kim, Woochan; Lee, Ju Ho - 2005

This paper provides the first rigorous econometric estimates on the pay-performance relations for executives of Korean firms with and without Chaebol affiliation. To do so, we have assembled for the first time panel data (that provide information not only on executive compensation and firm...

Persistent link: https://www.econbiz.de/10010267324

CEO turnover, firm performance and enterprise reform in China: evidence from new micro data

Kato, Takao; Long, Cheryl - 2006

Using comprehensive financial and accounting data on China's listed firms from 1998 to 2002, augmented by unique data on CEO turnover, ownership structure and board characteristics, we estimate Logit models of CEO turnover. We find consistently for all performance measures including both stock...

Persistent link: https://www.econbiz.de/10010274393

Does corporate governance reform necessarily boost firm performance? Recent evidence from Russia

Kuznecovs, Mihails; Pal, Sarmistha - 2012

This paper examines whether the introduction of corporate governance (CG) reforms in general and that of transparency and disclosure (T&D) rules in particular can necessarily boost firm performance. Existing literature suggests that CG reforms can boost performance because it can resolve the...

Persistent link: https://www.econbiz.de/10010282468

Ownership or Performance: What Determines Board of Directors' Turnover in Italy?

Brunello, Giorgio; Graziano, Clara; Parigi, Bruno Maria - 2000

This paper studies the turnover of board of directors members in a sample of 72 companies listed on the Milan Stock Exchange during the period 1988-1996. We investigate whether board members change more frequently when company performance is poor, as the literature suggests, and whether and how...

Persistent link: https://www.econbiz.de/10010276137

Firm performance and managerial turnover: the case of Ukraine

Muravyev, Alexander; Talavera, Oleksandr; Bilyk, Olga; … - 2009

ownership and supervisory board size, we do find significant entrenchments effects associated with ownership by managers …

Persistent link: https://www.econbiz.de/10010271280

The value relevance of top executive departures: evidence from the Netherlands

Cools, Kees; van Praag, C. Mirjam - 2007

On theoretical grounds, monitoring of top executives by the (supervisory) board is expected to be value relevant. The empirical evidence is ambiguous and we analyze three non-competing explanations for this ambiguity: (i) The positive effect on firm value of board monitoring is hidden in stock...

Persistent link: https://www.econbiz.de/10010276315

What explains the rise in CEO pay in Germany? A panel data analysis for 1977 - 2009

Fabbri, Francesca; Marin, Dalia - 2012

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 …

Persistent link: https://www.econbiz.de/10010282632

Age and gender composition of the workforce, productivity and profits: Evidence from a new type of data for German enterprises

Pfeifer, Christian; Wagner, Joachim - 2012

This empirical paper documents the relationship between composition of a firm's workforce (with a special focus on age … level surveys performed by the Statistical Offices. Our micro-econometric analysis confirms previous findings of concave age …-productivity profiles, which are consistent with human capital theory, and adds a new finding of a rather negative effect of age on firms …

Persistent link: https://www.econbiz.de/10010282402

Cognitive abilities and behavioral biases

Oechssler, Jörg; Roider, Andreas; Schmitz, Patrick W. - 2008

We use a simple, three-item test for cognitive abilities to investigate whether established behavioral biases that play a prominent role in behavioral economics and finance are related to cognitive abilities. We find that higher test scores on the Cognitive Reflection Test of Frederick (2005)...

Persistent link: https://www.econbiz.de/10010269260

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