We empirically study the relation between managerial ownership and firm performance in a unique private firm setting. The simplicity of the ownership structure and nature of our sample firms helps isolate the incentive-aligning effect of managerial ownership from the influence of other effects....

We examine how the size of the corporate directors' labor market affects the quality of board appointments in Italian private firms. To establish the causality of the relationship, we exploit exogenous variations in firms' access to non-local potential directors following the gradual...

This paper examines how the size of the corporate directors' labor market affects board appointments in Italian private limited liability firms. As an exogenous shock to a firm's access to potential non-local directors, we exploit the gradual expansion of the high-speed railway network that...