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This article provides a framework for analysing the character and degree of ownership engagement by institutional investors.It argues that the general term “institutional investor” in itself doesn’t say very much about the quality or degree of ownership engagement. It is therefore an...
Persistent link: https://www.econbiz.de/10011007280
This paper provides a framework for analysing the character and degree of ownership engagement by institutional investors. It argues that the general term “institutional investor” in itself doesn’t say very much about the quality or degree of ownership engagement. It is therefore an...
Persistent link: https://www.econbiz.de/10011276718
to discipline managers’ behaviour in order to satisfy shareholders’ interests. In this article, we only deal with the …
Persistent link: https://www.econbiz.de/10010585919
This Paper analyses the effect of the introduction of managerial incentives and new human capital on enterprise … performance after privatization in the Czech Republic. We find weak evidence for the presence of managerial incentives: only in …
Persistent link: https://www.econbiz.de/10005792419
ex-post inefficient, it provides entrepreneurs with high-powered incentives ex ante. We show that two types of equilibria …
Persistent link: https://www.econbiz.de/10005789057
researchers pay a particular attention to banking governance. Specifically, shareholders-managers’ convergence of interests and … negative effect on performance. The results also reveal that managers lack control while the board of directors seems to exert …
Persistent link: https://www.econbiz.de/10008694021
We administer psychometric tests to senior executives to obtain evidence on their underlying psychological traits and attitudes. We find US CEOs differ significantly from non-US CEOs in terms of their underlying attitudes. In addition, we find that CEOs are significantly more optimistic and...
Persistent link: https://www.econbiz.de/10010665550
dividend policy may be influenced by managers “catering” to the demands of investors and also the effects of aggregate earnings …
Persistent link: https://www.econbiz.de/10010617374
rent extraction might lead to the use of inefficient pay arrangements that provide suboptimal incentives and thereby hurt … constraints that act on these processes, leave managers with considerable power to shape their own pay arrangements. Examining the …
Persistent link: https://www.econbiz.de/10005114260
mitigating agency problems between managers and shareholders.We find that both the CEO's industry-adjusted monetary compensation …
Persistent link: https://www.econbiz.de/10011092291