This paper analyzes 700 papers presented at DGF annual meetings in the period from 1996 to 2007. We contribute to the literature in several ways. First, analyzing papers presented at the most important annual finance conference in German-speaking countries offers an unrivaled view on the German...

Executive pay is a major issue in the corporate governance debate. As well in practice as in theory debate still exists how executive pay levels and structures can be explained. This paper provides an overview of 16 theories that have been used in the literature to explain the phenomenon. The...

This paper develops a new experimental environment for the study of markets. The period structure of classical experimental markets, which is known to play an important role in the equilibration process, is replaced by an environment, in which incentives arrive randomly and continuously...

Very few matters of social importance are more complex than the one before you today. This particular issue is not only about uncovering obscure dollars unscrupulously extracted from the account balances of America's workforce, but it is also about correcting the culture that has permitted the...

We study the effect of media coverage on corporate governance by focusing on Russia in the period 1999-2002. This setting offers us three ideal conditions for such a study: plenty of corporate governance violations, no alternative mechanisms to address them, and the presence of an investment...

Economists have been reluctant to rely on culture as a possible determinant of economic phenomena. The notion of culture is so broad and the channels through which it can enter the economic discourse so vague that it is difficult to design testable hypotheses. In this paper we show this does...

There is abundant evidence that many individuals violate the rationality assumptions routinely made in economics. However, powerful evidence also indicates that violations of individual rationality do not necessarily refute the aggregate predictions of standard economic models that assume full...

Financial market volatility is an important input for investment, option pricing and financial market regulation. In this review article, we compare the volatility forecasting findings in 93 papers published and written in the last two decades. This article is written for general readers in...

The outcomes of near simultaneous bids for the news organizations Reuters Group plc and Dow Jones amp; Co. Inc. in 2007 hinged on mechanisms of corporate governance put in place at each company to protect the integrity and independence of the editorial operations. Neither company is a...

Failure or refusal to fully disclose fees, expenses, revenue sharing, and other hidden costs is causing hundreds of thousands of 401(k) and similar plans to operate outside the realm of fiduciary prudence, unknowingly engage in prohibited transactions, and unnecessarily erode the future benefits...