of firms' managers in the US in recent years and how the monitoring of institutional ownership influences these relations …. Specifically, based on the agency problem between managers and creditors, a research framework is developed that incorporates … different macroeconomic conditions to identify their influence on managers' risk incentives. More than 11,000 industrial firms …

incentives of US managers to adopt riskier business policies. Specifically, based on the agency problems between shareholders and … managers and between shareholders and creditors, a research framework is developed to identify the influence of low interest … rates on managers’ risk-taking incentives proxied by the sensitivity of executive compensation to stock return volatility …