the performance measure and its similarity (congruity, congruence) to the benefit of the manager’s employer. A necessary …

compensation to managers in low-tax jurisdictions, if payroll enters the FA formula. Managers in high-tax jurisdictions face the …

compensation to managers in low-tax jurisdictions, if payroll enters the FA formula. Managers in high-tax jurisdictions face the …

It is often claimed that (i) managers work too hard on operational issues and do not spend enough effort on strategic …

We address two apparent paradoxes of risk management: (1) managers hedge in order to avoid negative earnings surprises …, yet they tend to hedge risks uninformative of the value of the company; and (2) the presence of options in managers … informational asymmetry between insiders (managers) and outsiders (investors). Investors derive information about company value from …

We collect detailed survey data on financial managers' annual bonus plans and extensively validate a measure of the … financial targets are positively associated with financial managers' willingness to engage in unethical behavior. In contrast … find that willingness to engage in unethical behavior is lower when financial managers are close to retirement, when they …

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