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We model corporate governance in a world with competitive securities markets as well as markets for corporate assets …
Persistent link: https://www.econbiz.de/10011004172
We model long-run firm performance, management compensation, and corporate governance in a dynamic, nonstationary world ….  We show that managerial compensation and governance policies, which, in a single-period context, can best be rationalized … example, shareholder wealth is maximized by governance policies that tie board deference to generous compensation and link the …
Persistent link: https://www.econbiz.de/10011004279
We model corporate governance in a world with competitive securities markets as well as markets for corporate assets …
Persistent link: https://www.econbiz.de/10008631379
We model corporate governance in a world with competitive securities markets as well as markets for corporate assets …
Persistent link: https://www.econbiz.de/10005212080
We examine the relation between institutional investors and management discipline over the last several decades to better understand how CEO turnover has increased. Using a sample of forced and voluntary turnovers, we investigate the changing roles of activism and exit among institutional...
Persistent link: https://www.econbiz.de/10010577622
Exploiting a unique feature of the Clayton Antitrust Act, we analyze how directors holding outside directorships at peer firms affect firm value and performance of financial firms. We find that directors serving simultaneously at horizontally-related firms have a negative impact on firm value...
Persistent link: https://www.econbiz.de/10011273999
The attention for the governance of financial sector supervisors is of a recent date. The debate has risen to the fore … governance debate. We first discuss the main premise of the paper, that regulatory governance plays a pivotal role in instilling … financial sector governance, which in turn is a key source of corporate governance in the nonfinancial sector (the governance …
Persistent link: https://www.econbiz.de/10011704596
Purpose - The need for robust governance standards in financial institutions requires no overemphasis. However …, instances of governance failures have been a recurring global phenomenon. This paper examines the key elements of governance in … financial institutions, evaluates reasons for failures and suggests ways to strengthen governance and prevent such failures …
Persistent link: https://www.econbiz.de/10014449757
relationship to Public Choice theory and alternative visions of public goods analysis, public administration, and governance. The …
Persistent link: https://www.econbiz.de/10009294913