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human capital is very valuable in the financial industry, and weak internal governance hurts firm performance by limiting …
Persistent link: https://www.econbiz.de/10013088923
This paper provides new evidence that correlated abnormal compensation of CEOs and directors is symptomatic of agency problems associated with cronyism. We find that director abnormal compensation has a negative impact on the likelihood of CEO turnover and reduces the sensitivity of CEO turnover...
Persistent link: https://www.econbiz.de/10012871437
The objective of this paper is to present the transformations of corporate governance in Asia\r\nsince the crisis of …
Persistent link: https://www.econbiz.de/10009364351
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
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
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
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 model corporate governance in a world with competitive securities markets as well as markets for corporate assets …
Persistent link: https://www.econbiz.de/10008631379