This paper analyzes an important form of quot;stealth compensationquot; provided to managers of public companies. We …

response to past (local) house price changes, but renters are much slower to update than owners. Since renters' decisions to …

Many industries are characterized by heterogeneous objectives on the part of firm owners. Owners of private firms, in … particular, are likely to maximize utility, rather than profits. In this paper, we model and measure motivations of owners in on … of these motivations for market behavior. We find evidence that owners with strong non-financial motivations choose …

," but Soviet era industrial managers. After the oligarchs consolidated control, their firms performed far better than … comparable state enterprises and companies sold to incumbent managers, and helped fuel Russia's rapid growth after 1999 …

We develop a new theory of the firm where asset owners sometimes want to change partners ex-post. The model identifies … incentives for specific investments, and that wealthy owners actually want to commit to ex-post wealth constraints. Our analysis …

incumbent conditions in 2000-2005. The results highlight that the traits of business owners in incumbent industrial structures …