whether individual managers play an economically significant role in voluntary corporate financial disclosure. Tracking … managers across firms over time, we find top executives exert unique and economically significant influence (manager … firm- and time-specific effects. We further show that managers' unique disclosure styles are associated with observable …

convinced that their manager cares for them. Managers can signal their altruistic feelings towards their employees in two ways … altruistic managers may offer lower wages and nevertheless build up better social-exchange relationships with their employees … than egoistic managers do. In such equilibria, a low wage signals to employees that the manager has something else to offer …

The optimal view of managerial power theory suggests that corporate boards reward CEOs with power for good firm … performance as the boards' assessment of their ability is higher. In evaluating the CEO's quality, economic theory predicts that …