Equity compensation grants for rank-and-file employees are common among venture-backed start-ups and are considered an ingrained part of their business culture. However, extremely little is known about start-up employee equity holders. This article takes a first step toward filling this gap....

Firm managers of defined-benefit (DB) pension plan sponsors reveal their primary motives — risk-shifting or risk-management — through their assumed expected rates of return (ERRs) on the plan assets. Managers with risk-shifting motives choose high ERRs to exploit flexible internal financing...

This paper investigates the relationships between management turnovers and fund performance, by using data for the German equity mutual funds in the period from 1994 to 2009. Evidence shows that the future performance of prior over-average performing funds (winner funds) declines in the first...