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Understanding corporate governance through learning models of managerial competence
Hermalin, Benjamin E.; Weisbach, Michael S. - 2014
A manager's shareholders, board of directors, and potential future employers are continually assessing his ability. A rich literature has documented that this insight has profound implications for corporate governance because assessment generates incentives (good and bad), introduces assorted...
Persistent link: https://www.econbiz.de/10010353296
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Understanding corporate governance through learning models of managerial competence
Hermalin, Benjamin E.; Weisbach, Michael S. - 2014
Persistent link: https://www.econbiz.de/10010356253
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Understanding Corporate Governance Through Learning Models of Managerial Competence
Hermalin, Benjamin E. - 2014
A manager's shareholders, board of directors, and potential future employers are continually assessing his ability. A rich literature has documented that this insight has profound implications for corporate governance because assessment generates incentives (good and bad), introduces assorted...
Persistent link: https://www.econbiz.de/10013055514
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Understanding Corporate Governance Through Learning Models of Managerial Competence
Hermalin, Benjamin E. - 2014
A manager's shareholders, board of directors, and potential future employers are continually assessing his ability. A rich literature has documented that this insight has profound implications for corporate governance because assessment generates incentives (good and bad), introduces assorted...
Persistent link: https://www.econbiz.de/10012458636
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Essays on mutual fund governance and corporate governance
Sonnenburg, Florian - 2016
Persistent link: https://www.econbiz.de/10011443602
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How Do Corporate Boards Learn About CEO Ability? Evidence from Structural Estimation
von Drathen, Christian - 2014
CEO ability is an important determinant of firm performance but is usually not directly observable. I use simulated method of moments (SMM) in order to estimate a dynamic model of learning about CEO ability from the firm's stock market valuations, operating returns, and CEO turnover. This model...
Persistent link: https://www.econbiz.de/10013040442
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CEO Pay and the Market for CEOs
Falato, Antonio; Milbourn, Todd T.; Li, Dan - 2013
Competitive sorting models of the CEO labor market (e.g., Edmans, Gabaix and Landier (2009)) predict that differences in CEO productive abilities, or "talent", should be an important determinant of CEO pay. However, measuring CEO talent empirically represents a major challenge. In this paper, we...
Persistent link: https://www.econbiz.de/10014162578
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The impact of duality on managerial decisions and performance : evidence from the mutual fund industry
Kempf, Alexander; Pütz, Alexander; Sonnenburg, Florian - 2013 - This version: October 2013
We study the decisions and performance of managers who are also chair of the board (duality managers). We hypothesize … that duality managers take more risky decisions and deliver worse performance than non-duality managers due to reduced … hypotheses: Duality managers take risk that they could easily avoid, deviate from their benchmarks, make extreme decisions, and …
Persistent link: https://www.econbiz.de/10010194852
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Skill or effort? : institutional ownership and managerial efficiency
Baghdadi, Ghasan A.; Bhatti, Ishaq M.; Nguyen Huong Giang; … - In: Journal of banking & finance 91 (2018), pp. 19-33
Persistent link: https://www.econbiz.de/10011963463
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Managerial incentive, organizational slack, and performance : empirical analysis of Japanese firms' behavior
Mizutani, Fumitoshi; Nakamura, Eri - In: Journal of management & governance 18 (2014) 1, pp. 245-284
Persistent link: https://www.econbiz.de/10010340691