Corporate managers who own a majority of the common stock in their company or who represent another firm owning such an … interest appear to be less constrained than managers of diffusely held firms, yet their power to harm minority shareholders …. Finally, there is little evidence that new organizational mechanisms have evolved to constrain managers who own large blocks …

We study the (lack of) anchoring of inflation expectations in New Zealand using a new survey of firms. Managers of … Reserve Bank of New Zealand, a fact which we document along a number of dimensions. Managers are unaware of the identities of …

result of powerful managers setting their own pay. Others interpret high pay as the result of optimal contracting in a …