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We establish that CEOs of companies experiencing volatile industry conditions are more likely to be dismissed. At the same time, industry risk is, accounting for various other factors, unlikely to be associated with CEO compensation other than through dismissal risk. Using this identification...
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find that executives in all five are concerned with the roles of their firms in society, with those in Japan most so and …
Persistent link: https://www.econbiz.de/10012974557
the level, structure, and mechanisms of CEO compensation in Japan and perform a matched sample comparison between Japan …
Persistent link: https://www.econbiz.de/10012917053
more passive shareholders (lower ownership per non-institutional shareholder) are less likely to be takeover targets, less … likely to be acquired and command higher premiums. Using the adoption of anti-takeover law in Delaware as an exogenous shock … to anti-takeover protection, we show that the passiveness of shareholder base decreases as the takeover threat subsides …
Persistent link: https://www.econbiz.de/10009009605
Manuscript Type: EmpiricalResearch Question/Issue: This paper studies whether and how diversity among blockholders in their cultural preferences may affect short-term shareholder wealth. Blockholders often hold diverse objectives, leading to principal-principal (PP) conflicts in cross-border...
Persistent link: https://www.econbiz.de/10012893455
more likely to be replaced if the takeover is disciplinary …
Persistent link: https://www.econbiz.de/10013012966
We study the role of foreign directors in U.S. firms. We conclude that foreign directors, especially those from countries that are dissimilar to the U.S. in terms of business environment (i.e., dissimilar directors), are chosen by multinational corporations (MNCs) to provide advice, and this...
Persistent link: https://www.econbiz.de/10013066394
This thesis explores whether independent directors in the USA and Canada are effective in holding management accountable by: (1) analyzing how the policy of relying on independent directors developed and operates; (2) introducing the main theoretical critiques of independent directors'...
Persistent link: https://www.econbiz.de/10012991902
We examine the link between the genetic diversities of executive board members and bank financial misconduct. The premise is that genetic diversity results in different perspectives, skills, and abilities that impact on the effectiveness of executive board guidance and monitoring, including with...
Persistent link: https://www.econbiz.de/10013236093