We apply a dictionary method to Standard & Poor’s Capital IQ microdata on CEO changes, in order to construct a country-level manager turnover index. Next, we study the relation between manager turnover, distance to the technology frontier and economic growth in a panel of countries. Our...

National leaders, especially in autocratic countries, are often recognized as having significant effects on economic growth. However, existing methods have not credibly obtained reliable individual estimates of such effects. In order to identify the so-called leader effect, we adopt a synthetic...

This study examines the issue of whether managerial social capital, defined as aggregate benefits of social obligations and informal contacts formed through social networks, has an impact on financial development. Utilizing a large cross-country sample for the period 1999– 2012, we provide...

We examine the idea that excess managerial compensation acts as a reference wage in a fair wage-effort model of efficiency wages. We utilise the Australian Business Longitudinal Survey (1995-98) and the BHPS (1990-2002) to estimate the impact of excess managerial pay on labour productivity and...