We introduce a model in which a regulator employs mechanism design to embed her human capital beta signal(s) in a firm's capital structure, in order to enhance the value of her post career change indexed executive stock option contract with the firm. We prove that the agency cost of this...

We define asset manager career risk as the risk that asset owners terminate an existing manager due to an extended period of underperformance relative to a benchmark or peer group even though the manager has skill (defined here as positive information ratio). We show that myopic loss aversion...

Despite increased uncertainty in the environment, the role of uncertainty in people's careers is poorly understood. Those few theories that account for uncertainty portray it as a negative influence on people's career and should therefore be reduced or avoided. This article presents an empirical...