When a firm has external debt and monitoring by shareholders is essential, managerial bonuses are shown to be an … shareholders, but also between creditors and monitoring shareholders. A negative relation between corporate bond yields and …

Using the most recent data available, I examine the influence of large shareholders and institutional investors on …

Contrary to previous literature we hypothesize that labor's interest may well – like that of shareholders – aim at … interest in increasing incentive-based compensation to avoid management's excessive risk taking and short-run oriented …

Contrary to previous literature we hypothesize that interests of labor may well – like that of shareholders – aim at …

We evaluate whether management risk, coming from uncertainty about management's value added, affects firms' default … spreads all increase at the time of management turnover, when management risk is highest, and decline over the first three … years of CEO tenure. The effects increase with the prior uncertainty about the new management. These results are consistent …