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Regulatory Competition Puzzle : The US Design
Movsesyan, Vahagn - 2011
This paper puts together the pieces of the puzzle of the ongoing regulatory competition debate on corporate law in the US. At early stages of this process Delaware conquered the leader’s place replacing Jersey, and forever locked-in there through peculiar manners. The States take as granted...
Persistent link: https://www.econbiz.de/10014179623
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Separation of ownership and control : delegation as a commitment device
Boukouras, Aristotelis - 2011
This paper provides a theoretical model for explaining the separation of ownership and control in firms. An entrepreneur hires a worker, whose effort is necessary for running a project. The worker's effort determines the probability that the project will be completed on time, but the worker...
Persistent link: https://www.econbiz.de/10010348626
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CEO pay disclosure and within-firm wage inequality
Maida, Agata; Pezone, Vincenzo - 2024
percent and 1 percent of the within-firm wage distribution rise substantially. Instead, the effect on average wages is small …
Persistent link: https://www.econbiz.de/10015050833
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CEO Wage Dynamics : Estimates from a Learning Model
Taylor, Lucian A. - 2020
The level of Chief Executive Officer (CEO) pay responds asymmetrically to good and bad news about the CEO's ability. The average CEO captures approximately half of the surpluses from good news, implying CEOs and shareholders have roughly equal bargaining power. In contrast, the average CEO bears...
Persistent link: https://www.econbiz.de/10012857523
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Lohn- und Preisgerechtigkeit : historische Rückblicke und aktuelle Perspektiven unter besonderer Berücksichtigung der christlichen Soziallehren
Hecker, Christian - 2008 - 1. Aufl.
Persistent link: https://www.econbiz.de/10003679346
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Towards a Legal Theory of Finance
Pistor, Katharina - 2012
This paper develops the building blocks for a legal theory of finance. LTF holds that financial markets are legally constructed and as such occupy an essentially hybrid place between state and market, public and private. At the same time, financial markets exhibit dynamics that frequently put...
Persistent link: https://www.econbiz.de/10013097823
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Towards a Legal Theory of Finance
Pistor, Katharina - 2014
This paper develops the building blocks for a legal theory of finance. LTF holds that financial markets are legally constructed and as such occupy an essentially hybrid place between state and market, public and private. At the same time, financial markets exhibit dynamics that frequently put...
Persistent link: https://www.econbiz.de/10013065037
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The Separation of Funds and Managers : A Theory of Investment Fund Structure and Regulation
Morley, John - 2014
benefits investors in the funds in a rather paradoxical way: it limits their rights to control their managers and share in … their managers' profits and liabilities. Fund investors accept these limits because certain features common to most … encourage managers to operate multiple funds at the same time. These features diminish the importance of control and increase …
Persistent link: https://www.econbiz.de/10013064275
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Trade, technologies, and the evolution of corporate governance
Schymik, Jan Simon - 2015
their managers. Increases in managerial reservation wages lead to a reduction in corporate governance investments and a rise … in performance compensation since monitoring managers becomes less efficient. Using data on CEO compensation and …
Persistent link: https://www.econbiz.de/10011345788
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Trade, technologies, and the evolution of corporate governance
Schymik, Jan Simon - 2015
their managers. Increases in managerial reservation wages lead to a reduction in corporate governance investments and a rise … in performance compensation since monitoring managers becomes less efficient. Using data on CEO compensation and …
Persistent link: https://www.econbiz.de/10010529476