This article explores the influence of the pension system on corporate governance, which has so far received little attention in the corporate law literature. While the shareholder-centric view of corporate governance is strong today, this is a relatively recent development. “Managerial...

This paper studies the optimal design of long-term executive pay plans when boards of directors use accounting information for investment decision-making and executives can take costly actions to manipulate this information. The model predicts that a shift to more convex executive pay plans,...

This Article explores the influence of the pension system on corporate governance, which has so far received little attention in the corporate law literature. While the shareholder-centric view of corporate governance is strong today, this is a relatively recent development. “Managerial...

This paper develops a model to show how social insurance affects revolt against property rights and the consequences for the optimal design of the welfare state. It then tests for the effect of social insurance on revolt by introducing a panel data set derived from surveys across over 200,000...

In this paper we analyze the influence that incentives play in the timing of the transition to retirement in Spain. We use the Continuous Sample of Working Histories 2006 (CSWH 'Muestra Continua de Vidas Laborales', in Spanish) to construct incentive measures from the Social Security provisions...

The aging society and threatening old-age poverty are two major political topics in Germany for the next decades. Many modern employment biographies consist of atypical employment and discontinuities; both negatively impact the pension entitlements of the individuals. This work develops an...