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We examine the effect of say on pay regulation in the United Kingdom (UK). Consistent with the view that shareholders regard say on pay as a value-creating mechanism, the regulation's announcement triggered a positive stock price reaction at firms with weak penalties for poor performance. UK...
Persistent link: https://www.econbiz.de/10013134605
Suisse.• The article analyses how the debate extended internationally to the whole banking sector, with managers' pay …
Persistent link: https://www.econbiz.de/10013136173
This paper analyzes the relationship between CEO education, CEO turnover and firm performance. Our primary interest is …,600 cases of CEO turnover from 1993-2007.Our results show that CEO education does not play a large role in the decision by a …
Persistent link: https://www.econbiz.de/10013138583
This Article identifies a cost to public investors of tying executive pay to the future value of a firm's stock - even its long-term value. In particular, such an arrangement can incentivize executives to engage in share repurchases (when the current stock price is low) and equity issuances...
Persistent link: https://www.econbiz.de/10013123251
This Article identifies a cost to public investors of tying executive pay to the future value of a firm's stock - even its long-term value. In particular, such an arrangement can incentivize executives to engage in share repurchases (when the current stock price is low) and equity issuances...
Persistent link: https://www.econbiz.de/10013125003
Using a large sample of U.S. acquiring and non-acquiring firms and covering a broad sample of transactions, we examine the effects of mergers and acquisitions (M&A) on CEO compensation during 1993-2006, a period of intense M&A activity. We alleviate endogeneity concerns through dynamic panel...
Persistent link: https://www.econbiz.de/10013101686
In this study, I summarize the current state of executive compensation, discuss measurement and incentive issues, document recent trends in executive pay in both U.S. and international firms, and analyze the evolution of executive pay over the past century. Most recent analyses of executive...
Persistent link: https://www.econbiz.de/10013107589
We examine whether managers besides the CFO have 'styles' that affect firms' reporting and operating decisions …. Last, we provide evidence that certain observable demographic measures explain some of the managers' decisions. These … results add to the literature because they suggest that managers besides the CFO can significantly influence reporting and …
Persistent link: https://www.econbiz.de/10013086718
Using the historical random assignment of MBA students to sections at Harvard Business School, I explore how executive peer networks can affect managerial decision-making and firm policies. Within an HBS class, firm outcomes are significantly more similar among graduates from the same section...
Persistent link: https://www.econbiz.de/10013091961
Persistent link: https://www.econbiz.de/10013064153