We study the managers' compensation schemes adopted by publicly listed family firms by means of a theoretical model and an empirical analysis. Existing empirical literature finds puzzling evidence about the structure of family CEOs' pay, which apparently contradicts the fundamental tenets of...

This paper investigates the effects of board of director collusion on managerial incentives and firm values. Recent academic research hints at the social network of board of directors as an important conduit for coordinating corporate governance policies, such as managerial pay, and curbing...