Showing 1 - 8 of 8
thatalignment of management and ownership coexists with management entrenchment, and drawsconclusions about the impact of … the debt holders can be relied upon to discipline errant (and entrenched)management. In other words, on balance, negative …
Persistent link: https://www.econbiz.de/10009418716
We address the question of whether hedge fund and private equity investments in public firms are motivatedby corporate governance improvements. As opposed to traditional financial investors both HF and PE arelikely to have the incentives to alleviate agency conflicts. However, against the...
Persistent link: https://www.econbiz.de/10005870379
The extent of stock option remuneration for executives has been strongly criticized due tonumerous cases of balance sheet manipulation in the USA. The (complete) incentive compatibilityof executive remuneration using stock options to the market value of the company is still a controversy.This...
Persistent link: https://www.econbiz.de/10009004995
This paper is the rst to empirically analyze the value to shareholders of the power to havea binding vote on management …
Persistent link: https://www.econbiz.de/10009249005
On theoretical grounds, monitoring of top executives by the (supervisory) board is expectedto be value relevant. The empirical evidence is ambiguous and we analyze three noncompetingexplanations for this ambiguity: (i) The positive effect on firm value of boardmonitoring is hidden in stock price...
Persistent link: https://www.econbiz.de/10005861853
As strategy research has been exploring the dynamic, social and situated nature of the strategy process, so has the role of learning increasingly been recognised as a central feature of strategizing practice. This paper contributes to our understanding of the dynamics of strategizing practice by...
Persistent link: https://www.econbiz.de/10005865941
This paper contributes to the literature by introducing the nexus between financial constraints and thecapital-labour uptake and by considering the capital-labour ratio to overcome the problems that haveplagued investment literature -regarding the investment-cash flow sensitivity of constrained...
Persistent link: https://www.econbiz.de/10005868616
[...]In this paper, we study the strength of incentive featuresin banks’ top-management compensation contracts …. Weexamine the properties of bank-management compensationstructures, including pay-performance sensitivity, using datafrom 1992 …
Persistent link: https://www.econbiz.de/10005869847