This paper analyzes the process of private negotiations between financial institutions and companies. It relies on a private database consisting of correspondence between TIAA-CREF and 40 of the firms it contacted during a period from 1992 to 1996. The analysis suggests that private negotiations...

A manager's current and potential future employers are continually assessing her or his ability. Such assessment is a crucial component of corporate governance and this chapter provides an overview of the research on that aspect of governance. In particular, we review how assessment generates...

While executive compensation is often blamed for the excessive risk taking by banks, little is known about the operating performance incentives used in the finance industry both prior to and subsequent to the recent crisis. We provide a comprehensive analysis of incentive design -- the link of...