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Social networks in the boardroom
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
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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
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How unjust! An experimental investigation of supervisors' evaluation errors and agents' incentives
Marchegiani, Lucia; Reggiani, Tommaso; Rizzolli, Matteo - 2011
In our simple model the supervisor: i) cannot observe the agent's effort; ii) aims at inducing the agent to exert high effort; but iii) can only offer rewards based on performance. Since performance is only stochastically related to effort, evaluation errors may occur. In particular, deserving...
Persistent link: https://www.econbiz.de/10010282338
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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
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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
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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
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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
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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
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CEO and board characteristics as determinants of private benefits of control: Evidence from the Russian stock exchange
Berezinets, Irina; Ilina, Yulia; Muravyev, Alexander - 2011
This paper investigates whether and how various characteristics of CEOs and corporate boards are related to the severity of corporate governance problems within firms. The latter is proxied by private benefits of control, which we measure for dual class stock firms using the voting premium...
Persistent link: https://www.econbiz.de/10010282260
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Where do the brainy Italians go?
Constant, Amelie F.; D'Agosto, Elena - 2008
. Ceteris paribus, both push and pull factors are important. While having a Ph.D. from outside Italy predicts the UK choice … researchers who have at least a bachelor's from Italy and live abroad. There are three alternative country choices: the US …/Canada, the UK, and other EU countries. On average, the brainy Italians exhibit a higher predicted probability to go to the US …
Persistent link: https://www.econbiz.de/10010268850