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This paper considers incentives faced by investors (financial institutions) to become actively involved in the … costs of investor activism separately, it questions the conventional wisdom -based on simplistic agency theory - that share … ownership is so widely held in the UK that such incentives are too weak for shareholder activism to be a rational basis of a …
Persistent link: https://www.econbiz.de/10005398515
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This article provides a framework for analysing the character and degree of ownership engagement by institutional investors.It argues that the general term “institutional investor” in itself doesn’t say very much about the quality or degree of ownership engagement. It is therefore an...
Persistent link: https://www.econbiz.de/10011007280
This paper provides a framework for analysing the character and degree of ownership engagement by institutional investors. It argues that the general term “institutional investor” in itself doesn’t say very much about the quality or degree of ownership engagement. It is therefore an...
Persistent link: https://www.econbiz.de/10011276718
Persistent link: https://www.econbiz.de/10010475407
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the proportion of aggregate production that fails to be appropriated, and the private incentives to choose productive …
Persistent link: https://www.econbiz.de/10005100938
identified. It is shown that the primary determinant of whether multi-tasking leads to higher or lower powered incentives is the …
Persistent link: https://www.econbiz.de/10005454108
We investigate an economy in which firms have different risks to go bankrupt. We observe two things: first, workers in firms with higher bankruptcy risk (bad firms) always work less than workers in good firms. Second, the CEOs of bad firms may nonetheless receive larger wages. Copyright...
Persistent link: https://www.econbiz.de/10005391090
This paper considers optimal compensation for a CEO who is entrusted with administering corporate assets honestly. Optimal compensation designs maximize integrity at minimum cost. These designs are very ‘low powered,’ i.e., while specifying a lower bound for performance and...
Persistent link: https://www.econbiz.de/10005509818