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Bank of Scotland with those at non-ailing banks in the UK; the other compares remuneration policies at UBS and Credit … Suisse.• The article analyses how the debate extended internationally to the whole banking sector, with managers' pay …
Persistent link: https://www.econbiz.de/10013136173
CEOs of large firms filing for bankruptcy are more likely to exit the executive labor market after bankruptcy and experience substantial compensation losses (Eckbo et al., 2016). While the fear of reputational scarring can lead to lower risk-taking and manifest itself as lower rates of...
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We propose a model of delegated portfolio management with career concerns. Investors hire fund managers to invest their … capital either in risky bonds or in riskless assets. Some managers have superior information on the default probability …. Looking at the past performance, investors update beliefs on their managers and make firing decisions. This leads to career …
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We examine how real investment decisions of younger and older Chief Executive Officers (CEOs) are affected by their career concerns. Relative to their older counterparts, younger CEOs are more likely to enter new lines of business and exit from existing ones. They prefer growth through...
Persistent link: https://www.econbiz.de/10014044024
This paper explores the career consequences of the decision to ally oneself with an activist investor/hedge fund in a proxy contest. Using 102 observations where an existing director reveals themselves to be a ‘dissident director' (i.e. agrees to help an activist in a proxy contest against an...
Persistent link: https://www.econbiz.de/10012962331
This paper shows that proxy contests have a significant adverse effect on careers of incumbent directors. Following a proxy contest, directors experience a significant decline in number of directorships not only in the targeted company, but also in other non-targeted companies. The results are...
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both managers and firms, and affects the contractual relationships between those parties in important ways. Assessment (or …
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