This paper finds that globalization is contributing to the rapid increase in executive compensation over the last few … executives at firms with poor corporate governance, as one would expect if globalization has enhanced rent-capture opportunities …. Overall, these results indicate that globalization has played a more central role in the rapid growth of executive …

, labor and "managers", each with a distribution of ability levels. Production combines a manager of some type with a group of …

coincided with an increasing reliance on stock options to compensate top managers, and stock options encourage managers to …

particularly attractive locations to offshore? In this paper we address these questions with a theory of international production … hierarchies in which organizations arise endogenously to make efficient use of agents' knowledge. Our theory highlights the role … managers improves the efficiency of the transmission of knowledge across countries. The model further delivers the prediction …

: reducing the opportunity for managers to transfer value to equityholders from creditors via strategic default, and reducing the …

Managerial delegation is essential for firm growth. While firms in poor countries often shun outside managers and …