This article characterizes the properties of the compensation scheme of delegated portfolio management that would lead to the selection of high risk-high return portfolios. In particular, it provides conditions under which a non-monotone payment structure emerges as an optimal contract, which...

In the field of facility management, there are four main factors such as people, process, technology and also premises. In this study, factors of premise emphasized where the management of its space is to be managed efficiently and effectively. It is a regularly discussed topic as space...

Literature has tried to report whether high compensation differences between executives are linked to better firm performance. This study, based on tournament theory arguments, has attempted to provide new evidences in this line of research, using a sample of 120 Spanish listed firms. Results,...