Showing 1 - 5 of 5
Using a unique employee-establishment matched survey, we find a causal relationship between an individual employee's trust of management and the delegation of real authority. We utilize both fixed effects and instrumental variables to control for unobserved factors: establishment-level fixed...
Persistent link: https://www.econbiz.de/10012951879
Persistent link: https://www.econbiz.de/10012504421
It is not possible for a formal employment contract to detail everything an employee should do and when. Informal relationships, in particular trust, allow managers to arrange a business in a more productive way; high-trust firms are both more profitable and faster growing. For example, if they...
Persistent link: https://www.econbiz.de/10014290491
Persistent link: https://www.econbiz.de/10014228484
We analyze the direct impacts of managerial overconfidence upon the dividend decision and demonstrate that the dividend levels and speeds of adjustment to target levels can increase when managers exhibit overconfidence. However, we demonstrate that the directional impact upon dividend levels...
Persistent link: https://www.econbiz.de/10013085754