The financial crisis is a crisis of governance as well. In search of answers and solutions many scholars and practitioners recommend improved output control, i.e. better external incentives or even stricter regulations. Monasteries demonstrate that alternative models may be more suitable to...

Am Beispiel der Schweizer Justizinitiative zeigen wir auf, dass eine qualifizierte Losauswahl keineswegs irrational ist, sondern zu einer Rationalität auf einer übergeordneten, institutionellen Ebene führen kann. Sie erhöht die Wahrscheinlichkeit, ausgezeichnete Kandidierende für eine...

Director compensation has become a fashionable topic: Cross-nationally, the earnings of executives and non-executive directors have risen significantly in recent years. Academic literature offers two hypotheses for this trend, a "fat cat" and an "optimal-contract" explanation. Proponents of the...

A rarely studied trend in corporate governance is the increasing tendency to fill CEO openings through external hires rather than through internal promotions: Kevin J. Murphy and Ján Zábojník (2004) show that the proportion of outside hires has doubled and their pay premium almost quadrupled...

The financial crisis made apparent the fact that managers and the boards of banks had failed to see the implications of irrational behavior and had ignored the risk associated with group think. Taking data from Switzerland our study shows that there is an increasing homogeneity of management and...

Publication and citation rankings have become major indicators of the scientific worth of universities and countries, and determine to a large extent the career of individual scholars. We argue that such rankings do not effectively measure research quality, which should be the essence of...

Mit einem Tempo wie keine technologische Revolution zuvor prägt die Digitalisierung unseren Alltag. Aus heutiger Sicht ist kaum vorstellbar, dass das Internet erst seit den 1990er-Jahren unseren (Arbeits-)Alltag prägt oder das erste Smartphone erst vor 13 Jahren den Markt eroberte....

The rise in executive compensation has triggered a great amount of public controversy and academic research. Critics have referred to the salaries paid to managers as 'pay without performance', while defenders have countered that the large salaries can be explained by a 'war for talents'. This...

Publication and citation rankings have become major indicators of the scientific worth of universities and countries, and determine to a large extent the career of individual scholars. We argue that such rankings do not effectively measure research quality, which should be the essence of...

Democracy usually is identified by the right to vote. However, in recent times voting procedures have been criticized, as they seemingly do not guarantee that all parts of the population have an adequate voice in the established political process. We suggest invigorating an old but nearly...