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How can office-seeking politicians or managers be aligned with social welfare or firm welfare, given that such agents … welfare than other groups. In democratic politics, where there is no comparable group of residual claimants who are aligned to … social welfare, an efficient elite-majority bargain involves the creation of competing party ideologies that serve to check …
Persistent link: https://www.econbiz.de/10014047248
Persistent link: https://www.econbiz.de/10012106975
-authors on corruption, ethical leadership, and social contracts theory, and relates that literature to corrupt activities by … corporate executives. Corruption is defined broadly to encompass executive self-dealing, which harms their firms. The specific … example, to propose a framework aimed at improving corporate governance and preventing future executive corruption. The …
Persistent link: https://www.econbiz.de/10013157410
Information-based theories of financial intermediation focus on delegated monitoring. However, there is little evidence on how markets discipline intermediaries who fail at this function. We exploit the direct link between corporate fraud and monitoring failure and examine how a venture capital...
Persistent link: https://www.econbiz.de/10013038213
GDPR, implying that the GDPR can be welfare-improving. But if the firm's revenue is largely from data monetization, then …
Persistent link: https://www.econbiz.de/10014334058
The paper presents experimental evidence on the impact of managers and their incentives on the behavior of group members in intergroup contests. I find that members follow the nonbinding investment recommendations of their group manager in particular if the managers payoff does not depend on the...
Persistent link: https://www.econbiz.de/10010340540
Consumers may observe previous consumers' choices. They may follow their choices if they think these consumers are better informed. In turn, firms may concentrate on influencing the early consumers. This, in turn, changes the nature of early consumers' choice behavior as a signal for other...
Persistent link: https://www.econbiz.de/10014073311
This study examines the role of managers’ political campaign contributions in relation to their firms’ tax benefits. The study differs from extant public choice literature that has not examined the role of self-interested agents within the firm. Using a major tax law change, we find that...
Persistent link: https://www.econbiz.de/10014034995
This paper investigates whether political connections affect individuals' propensity to engage in illegal activities in financial markets. We use the 2007 French presidential election as marker of change in the value of political connections, in a difference-in-differences research design. We...
Persistent link: https://www.econbiz.de/10012935450
Adequate wages are an important tool to shield public officials from special interests and corruption. But what is the … significantly more likely to prevent corruption in public procurement, a key area of illicit interactions between the state and … limit corruption, but also foster the use of violence as an alternative tool to influence policymaking …
Persistent link: https://www.econbiz.de/10014337819