When do American CEOs have covenants not to compete (CNCs) in their employment contracts? To answer this question, we collected a random sample of nearly 1000 CEO employment contracts for 500 companies randomly selected from the S&P 1500 for the time period 1996 to 2010. Our main findings are...

During the last decade, the stratospheric increases in Chief Executive Officer (CEO) pay levels have made executive compensation a popular target for shareholder activism, particularly when high pay is accompanied by poor corporate performance. Outraged investors have made their views know to...

This paper surveys the empirical literature on shareholder voting, specifically on votes related to contested and uncontested director elections and on management proposals. While much of current theory depicts shareholder votes as an ineffective control on the board's decision making, the...

This study compares CEO employment contracts across two common law countries: the United States and Australia. Although the regulatory regimes of these jurisdictions enjoy many comparable features, there are also some important institutional differences in terms of capital market, tax, and...

U.S. Chief Executive Officers (“CEOs”) remain one of the most studied groups in the law and management literature. However, the terms of the firm-CEO employment agreements are important evidence of executive's role that often overlooked and, thus, not fully understood. This book chapter...

There are many lessons to be drawn from the sweep of history. In law, the compelling story repeatedly told is the observable co-movement of law on the one hand, and economic, social, and political changes on the other hand.1 Aberrations, however, do arise but generally do not persist in the long...

A bill currently pending in Congress would render unenforceable mandatory arbitration clauses in all employment contracts. Some perceive these provisions as employer efforts to deprive employees of important legal rights. Company CEOs are firm employees, and, unlike most other firm employees,...