Women remain underrepresented at the upper echelons. An aversion to competition has been suggested as a factor that discourages women from applying for top jobs. This paper reviews the research showing that high-ability females compete less than males. We develop a theoretical approach to...

The financial crisis made apparent the fact that managers and the boards of banks had failed to see the implications of irrational behavior and had ignored the risk associated with group think. Taking data from Switzerland our study shows that there is an increasing homogeneity of management and...

A rarely studied trend in corporate governance is the increasing tendency to fill CEO openings through external hires rather than through internal promotions: Kevin J. Murphy and Jaacute;n Zaacute;bojniacute;k (2004) show that the proportion of outside hires has doubled and their pay premium almost...

Abstract: Der weltweite Anstieg der Gehälter für angestellte Manager wird kontrovers diskutiert. Auf der einen Seite argumentieren Vertreter "optimaler Verträge", dass der Anstieg der Gehälter durch funktionierende Märkte verursacht ist. Aus dieser Sicht erhöhen die Internationalisierung...

Democracy usually is identified by the right to vote. However, in recent times voting procedures have been criticized, as they seemingly do not guarantee that all parts of the population have an adequate voice in the established political process. We suggest invigorating an old but nearly...

The financial crisis is a crisis of governance as well. In search of answers and solutions many scholars and practitioners recommend improved output control, i.e. better external incentives or even stricter regulations. Monasteries demonstrate that alternative models may be more suitable to...

Current reforms in the public sector are characterized by the introduction of businesslike incentive structures, in particular the introduction of “pay for performance” schemes in public institutions. However, the public sector has some specific characteristics, which might restrict the...