, exposing themselves to more company-specific risk, potentially providing risk-reduction incentives and diminishing their …

We study the managers' compensation schemes adopted by publicly listed family firms by means of a theoretical model and … typically exhibit lower expected pay but higher pay-for-performance sensitivity than external managers, despite their large …

model suggesting that employee ownership policy reveals management quality. Good managers would use employee ownership as a … reward management tool whereas bad managers would implement it for entrenchment motives. We bring about three main … conclusions: (i) Bad managers use employee ownership as an entrenchment mechanism. (ii) This latter phenomenon increases the cost …

. This paper develop a model suggesting that employee ownership policy reveals management quality. Good managers would use … employee ownership as a reward management tool whereas bad managers would implement it for entrenchment motives. We bring about … three main conclusions: (i) Bad managers use employee ownership as an entrenchment mechanism. (ii) This latter phenomenon …

We derive a measure that captures the extent to which common ownership shifts managers' incentives to internalize … analyzing whether the growth of common ownership affects managerial incentives …