market participants use to isolate managers' idiosyncratic performance-chosen by boards to evaluate managers. Among firms …

managers and shareholders. Our study extends the literature by examining the incorporation of debt-related performance metrics …

senior managers. However, the institutional factors associated with high levels of compensation of public managers are hardly … known. In particular, studies about the possible relation between factors of governance and compensation of public managers … insights for general reforms of governance aimed to support equitably levels of compensation of public managers and efficiency …

empirical reality is different. A surprisingly large share of firms is run by family managers. Our study provides a rational … of family and non-family managers in a moral-hazard model with imperfect performance measures, where managerial tasks are … nonfamily managers, the associated effort distortion towards economic outcomes is less pronounced for family managers. When …