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CEOs are “lucky” when they are granted stock options on days when the stock price is lowest in the month of the grant, implying opportunistic timing and severe agency problems (Bebchuk et al., 2010). Using idiosyncratic volatility as our measure of stock price informativeness, we find that...
Persistent link: https://www.econbiz.de/10011065838
Prior research on mass media and government accountability has not examined the effects of citizen media access on broad public services, such as education. At the same time, research has abstracted from the potentially influential role of mass media on parental investments in children's...
Persistent link: https://www.econbiz.de/10011065902
considers the policy implications, arguing that the usual remedies promoted by the development community of transparency and …
Persistent link: https://www.econbiz.de/10011066010
Persistent link: https://www.econbiz.de/10005390133
Governments seem to influence the decisions taken by the Governing Council of the ECB. It's been argued that the publication of forecasts and minutes of the Governing Council's meetings would have a negative effect due to the influence of governments on their representatives' votes. In my model,...
Persistent link: https://www.econbiz.de/10005398514
Persistent link: https://www.econbiz.de/10005512694
This paper studies optimal financial contracts and product market competition under a strategic transparency decision …, the dominant lender can influence corporate transparency. More transparency about a firm's competitive position has both … strategic advantages and disadvantages: in general, transparency results in higher variability of profits and output. Thus …
Persistent link: https://www.econbiz.de/10005518788
This paper evaluates the role of inflation-forecast heterogeneity in US monetary policy making. The deviation between private and central bank inflation forecasts is identified as a factor increasing inflation persistence and thus calling for a policy reaction. An optimal policy rule is derived...
Persistent link: https://www.econbiz.de/10005523512
, transparency and corruption. For each issue, the study analyses major aspects and compares relevant experience of the Czech …
Persistent link: https://www.econbiz.de/10005268674
at the European and Austrian level, highlighting the crucial importance of transparency and disclosure requirements as …
Persistent link: https://www.econbiz.de/10005273212