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Conflicts of Interest Distort Public Evaluations : Evidence from the Top 25 Ballots of NCAA Football Coaches
Kotchen, Matthew J. - 2011
This paper provides a study on conflicts of interest among college football coaches participating in the USA Today … percent of a coach's football budget, coaches respond with more favorable rankings of half a position, and this effect is more …
Persistent link: https://www.econbiz.de/10013118120
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Professionals Do Not Play Minimax : Evidence from Major League Baseball and the National Football League
Kovash, Kenneth; Levitt, Steven D. - 2021
pitch type in Major League Baseball and whether to run or pass in the National Football League. We observe more than three … million pitches in baseball and 125,000 play choices for football. We find systematic deviations from minimax play in both … data sets. Pitchers appear to throw too many fastballs; football teams pass less than they should. In both sports, there is …
Persistent link: https://www.econbiz.de/10013224414
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Favoritism Under Social Pressure
Garicano, Luis; Palacios-Huerta, Ignacio; Prendergast, … - 2021
This paper provides empirical evidence of favoritism by agents, where that favoritism is generated by social pressure. To do so, we explore the behavior of professional soccer referees. Referees have discretion over the addition of extra time at the end of a soccer game (called injury time), to...
Persistent link: https://www.econbiz.de/10013226985
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Testing Out Contractual Incompleteness : Evidence from Soccer
Carbonell-Nicolau, Oriol; Comin, Diego - 2021
The theory of incomplete contracting is rival to that of complete contracting as a frame of reference to understand contractual relationships. Both approaches rest upon diametrically opposed postulates and lead to very different policy conclusions. From a theoretical viewpoint, scrutiny of the...
Persistent link: https://www.econbiz.de/10013228753
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Winning by Losing : Evidence on the Long-Run Effects of Mergers
Malmendier, Ulrike - 2012
Do acquirors profit from acquisitions, or do CEOs overbid and destroy shareholder value? We propose a novel approach to measuring the long-run returns to mergers. In a new data set of close bidding contests we use losers' post-merger performance to construct the counterfactual performance of...
Persistent link: https://www.econbiz.de/10013107194
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Cross-Border Acquisitions and Target Firms' Performance : Evidence from Japanese Firm-Level Data
Fukao, Kyoji - 2010
acquisition target based on its productivity level, profitability and other characteristics and whether the performance of … acquisitions improved target firms%u2019 productivity and profitability significantly more and quicker than acquisitions by … domestic firms.Moreover, we find that there is no positive impact on target firms%u2019 profitability in the case of both …
Persistent link: https://www.econbiz.de/10012760742
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Asset Sales, Firm Performance, and the Agency Costs of Managerial Discretion
Poulsen, Annette B. - 2010
We argue that management sells assets when doing so provides the cheapest funds to pursue its objectives rather than for operating efficiency reasons alone. This hypothesis suggests that (1) firms selling assets have high leverage and/or poor performance, (2) a successful asset sale is good news...
Persistent link: https://www.econbiz.de/10012763250
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Top Executives, Turnover and Firm Performance in Germany
Kaplan, Steven N. - 2021
This paper examines executive turnover -- both for management and supervisory boards - - and its relation to firm performance in the largest companies in Germany in the 1980s. The management board turns over slowly -- at a rate of 10% per year -- implying that top executives in Germany have...
Persistent link: https://www.econbiz.de/10013218102
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Boards of Directors as an Endogenously Determined Institution : A Survey of the Economic Literature
Hermalin, Benjamin E.; Weisbach, Michael S. - 2021
answering one of three questions: 1) How are board characteristics such as composition or size related to profitability? 2) How …
Persistent link: https://www.econbiz.de/10013232428
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Reallocation, Firm Turnover, and Efficiency : Selection on Productivity or Profitability?
Foster, Lucia; Haltiwanger, John; Syverson, Chad - 2021
There is considerable evidence that producer-level churning contributes substantially to aggregate (industry) productivity growth, as more productive businesses displace less productive ones. However, this research has been limited by the fact that producer-level prices are typically unobserved;...
Persistent link: https://www.econbiz.de/10013249707