There exists a large number of research on ownership structure and managerial compensation and their consequences for shareholder value maximization. However, academic research has been less concerned with analysis of explanatory factors for managerial myopia over time, different markets and...

This paper presents a model to account for the behaviour of social elites, in terms of their decisions to distribute resources between themselves, and a mass of disadvantaged members of society. Privileged members of society have the opportunity to allocate resources either to improve their own...

Accreditation from the Association to Advance Collegiate Schools of Business (AACSB) is highly sought after by business schools both in the United States and internationally. Business schools devote considerable resources to earn and maintain the accreditation. Despite this effort and expense,...

The paper proposes a model of delegated portfolio management in which career concerns lead to unprofitable trade by uninformed managers (i.e. churning). We find that churning does not necessarily reduce the return that a representative investor expects ex-ante from delegating trade to a manager....

Workweek reduction laws may be beneficial if market interactions do not fully take into account the preferences reflected in declining secular trends in working hours. The most recent law in France shortened the workweek from 39 to 35 hours in 2000 for large firms, and in 2002 for small firms....

Capital structure decisions rely on a complex array of theoretical foundations and practical considerations. At the managerial level, it is impractical to base decisions purely on theory. While one can develop a perception of an optimal capital structure, the decision is often obscured by...

""This book explores the prospects and challenges of the digital transformation of modern business corporations during the process of transition from the outdated business endeavors to the updated ones"--Provided by publisher"--