We investigate upon the shape and the determinants of the age distribution of business firms. By employing a novel dataset covering the population of French businesses, we highlight that a geometric law provides a reasonable approximation for the age distribution. However, relevant systematic...

The paper seeks to approach the effect of the Pension Funds Administrator's (AFP) affiliation to a business group, specifically in terms of performance and investment decisions. We used the Malmquist index from the DEA methodology (2001-2010) and the investments made by the AFPs and the...

Purpose – The purpose of this paper is to present novel empirical findings regarding the shareholder-management agency problem. Design/Methodology/Approach – The paper presents new evidence regarding the shareholder-management agency problem. It expands the set of factors that may cause...

This paper examines how pension plans affect employee behavior and firm performance. Theoretically, the impact of pensions on firm performance cannot be predicted. Firms with pensions should have lower turnover rates and more efficient retirement decisions; their employees will be less likely to...

This paper examines how pension plans affect employee behavior and firm performance. Theoretically, the impact of pensions on firm performance cannot be predicted. Firms with pensions should have lower turnover rates and more efficient retirement decisions; their employees will be less likely to...