This paper studies how division managers' access to venture capital (VC) markets affects the internal capital … allocation decision of a multi-division firm. Division managers may leave firms and seek venture financing if their project ideas … product market competition. The paper characterizes headquarters' decision to retain managers and allocate capital for …

This questionnaire survey of fund managers in the United States, Germany and Switzerland documents a distinctly … significantly related to higher working effort but not to risk taking. They also seem to induce fund managers to rely more on … fundamental information. Findings within regions are confirmed by Trans-Atlantic evidence as US fund managers receive larger …

This questionnaire survey of fund managers in USA, Germany, and Switzerland documents a distinctly positive influence … to higher working effort but not to risk-taking. They also seem to induce fund managers to rely more on fundamental … information. Findings within regions are confirmed by Transatlantic evidence as US fund managers receive larger bonuses but also …