misalignment between managers and the firm, these two purposes are in conflict. This is because the worker with the largest private …: employees that create lower expected profits as managers have yet better promotion prospects. That finding still holds when the … firm owner optimally chooses the promotion rule, the degree of delegation, and wage payments to both employees and managers …

-taking. These results are consistent with the “takeover incentive hypothesis,” an original proposition stating that GPs influence … risk-taking through the incentive of a CEO with a GP to accept a takeover, as well as delta's role in affecting the weight … of the CEO's incentive to maximize the expected takeover-associated equity portfolio wealth. The findings do not support …

turning them into targets of takeover. These results suggest that a hyper acquisition-induced growth strategy is, on average …

mitigated by pay-for-performance incentives for managers who decide upon promotion. Second, we analyze matched employer … indeed substantially higher when managers receive performance-related pay or participate in gain sharing plans. -- incentives …

quality managers are weeded out by the firm, and 2) high quality managers leave because firms are unable to adjust their …