origination and securitization aligned divisional incentives and improved lending quality. We show that vertical integration … from aligned divisional incentives. These findings support the view that corporate governance influences the strategic …

. First, it argues that proper incentives—created by executive compensation, heightened risk of early termination, market …

We analyze the effects of synergies from horizontal mergers on managerial incentives. In contrast to synergies … after a merger. We show that synergies suppress managerial incentives within the non-merging firms, whereas the effect on … defense in merger control. -- Managerial Incentives ; Horizontal Mergers ; Antitrust ; Productive Efficiency Gains ; Synergies …

agents with incentives to cut marginal costs prior to choosing output. We stress that synergies come at a cost which possibly … leads to a countervailing incentive effect: The merged firm's principal may be induced to stifle managerial incentives in …

divisions to replace high incentive pay to the division heads by incentives based on private benefits of control. In that …

The paper studies incentives of low-quality sellers to disclose negative information about their product. We develop a …

' response to control and delegation when monetary incentives between agents and principals are not aligned, but little is known … about how such preferences influence the principle agent relationship when monetary incentives are aligned. Using a novel … that non-monetary preferences also generate hidden costs when principal and agent's monetary incentives are aligned …

rents can be used to provide incentives. Preferences for reciprocity still affect the structure of an employment … interaction. Therefore, reciprocity-based and repeated-game incentives are dynamic substitutes, but complements at any given point …