2008 financial crisis. Strong and weak banks also stand apart: managers from weak banks took more risk than their peers in …

direct incentives from incentive fees and managers' personal stakes in the fund. Combining direct and indirect incentives …

(2008) fail to find a general trend in hedge fund managers risk-taking behavior when their option is out of the money …

(performance fees) and implicit incentives (fund flows) of asset managers. Funds with performance fees face substantially steeper …

. 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 …

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 …