Showing 1 - 10 of 12
We show theoretically and empirically that executives are paid less for their own firm's performance and more for their rivals' performance if an industry's firms are more commonly owned by the same set of investors. Higher common ownership also leads to higher unconditional total pay. We...
Persistent link: https://www.econbiz.de/10011561142
Persistent link: https://www.econbiz.de/10011561809
Persistent link: https://www.econbiz.de/10013166832
Persistent link: https://www.econbiz.de/10011884118
We present a mechanism based on managerial incentives through which common ownershipaffects product market outcomes. Firm-level variation in common ownership causes varia-tion in managerial incentives and productivity across firms, which leads to intra-industryand intra-firm cross-market...
Persistent link: https://www.econbiz.de/10011747733
We present a mechanism based on managerial incentives through which common ownership affects product market outcomes. Firm-level variation in common ownership causes variation in managerial incentives and productivity across firms, which leads to intra-industry and intra-firm cross-market...
Persistent link: https://www.econbiz.de/10013477278
Persistent link: https://www.econbiz.de/10014303176
Persistent link: https://www.econbiz.de/10014512003
We document substantial time-series and cross-sectional variation in branch-level deposit account interest rates, maintenance fees, and fee thresholds, and examine whether variation in bank concentration helps explain variation in these prices. HHI alone is not correlated with any of the outcome...
Persistent link: https://www.econbiz.de/10012903715
After decades of theoretical inquiry, a burgeoning empirical literature now debates how ownership patterns, governance choices, and executive compensation structure affect firms' competitive behavior. An often-made assumption in the debate is that relative performance evaluation (RPE) of top...
Persistent link: https://www.econbiz.de/10012910910