This paper examines changes in the motivation of physicians at work since the start of the salary reforms in 2008 …% of physicians believe that they are working at a high level of quality and performance.The majority of physicians desire …

We examine the effect of liability protection on the compensation of directors and on takeover outcomes. Consistent … with the hypothesis that directors require additional compensation if they bear liability, we find that director … compensation is higher for firms that provide less liability protection. Examining takeovers, we find evidence that takeovers of …