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...

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,...

Management meted out punishment to enforce rules and encourage adherence. However, the effectiveness depended on how the employees perceive and interpret the policy. This study tested the effect of reducing individual lateness in a plastic factory. Field experiment was conducted to test the...

The paper examines the corporate governance mechanism of the control model (or insider control system) by looking at both the motivation for management to deviate from following their principal's wishes and whether the supervising body, the board of directors would correct them. Some...

In this study theorizes and researches empirically on an advanced frame of analysis of the capabilities formative processes and his formative complementarity degree, like point of split for an efficient management of the organizational capabilities. The results on 136 Spanish high technology...