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Over the past two decades there has been a substantial increase in the mobility of students in Europe, while also … higher education in Europe and investigate potential explanations for the strong increase in its international orientation …
Persistent link: https://www.econbiz.de/10013151394
, labor and "managers", each with a distribution of ability levels. Production combines a manager of some type with a group of …
Persistent link: https://www.econbiz.de/10013074651
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 …
Persistent link: https://www.econbiz.de/10012956923
history and economic theory both provide ample grounds for anticipating that advanced stages of economic globalization would … populist politicians highlight. The first has been predominant in Latin America, and the second in Europe. I argue that these … different reactions are related to the relative salience of different types of globalization shocks …
Persistent link: https://www.econbiz.de/10012952507
the unskilled. By contrast, in Europe it is undoubtedly the rise and persistence of unemployment. Technology has been …
Persistent link: https://www.econbiz.de/10013226172
global economy. It builds on the models of Davis (1997a, b) of trade between a flexible wage America and a rigid wage Europe …
Persistent link: https://www.econbiz.de/10013235283
primary schooling and literacy revolution in Europe. Under what conditions would we expect the same responses to globalization … abundant Europe and the high-wage, labor scarce New World. Those global forces contributed to a reduction in unskilled labor … scarcity in the New World and to a rise in unskilled labor scarcity in Europe. Thus, it contributed to rising inequality in …
Persistent link: https://www.econbiz.de/10012752104
control markets (i.e., where interstate banking is permitted) require talented managers whose levels of compensation are … higher. We also find that the compensation-performance relationship is stronger than for managers in markets where interstate …
Persistent link: https://www.econbiz.de/10013125319
This paper develops a simple equilibrium model of CEO pay. CEOs have different talents and are matched to firms in a competitive assignment model. In market equilibrium, a CEO%u2019s pay changes one for one with aggregate firm size, while changing much less with the size of his own firm. The...
Persistent link: https://www.econbiz.de/10012779748
We examine how an increase in stock option grants affects CEO risk-taking. The overall net effect of option grants is theoretically ambiguous for risk-averse CEOs. To overcome the endogeneity of option grants, we exploit institutional features of multi-year compensation plans, which generate two...
Persistent link: https://www.econbiz.de/10012902373