We analyze a new management survey for around 1,000 firms and 10,000 employees across two large provinces in China. The … unique aspect of this survey is it collected management data from the CEO, a random sample of senior managers and workers. We … poorly managed firms. This distribution of management scores is similar for CEOs, senior managers and workers management, and …

, while the most able managers obtain a wage increase, less able managers are faced with a reduction in wages. Hence our model …

We test under what circumstances boards discipline managers and whether such interventions improve performance. We …