. The results favor the team perspective under which unilateral shirking is assumed infeasible for managers. The analysis … compensation in S&P 1500 firms, which distinguish between a team perspective and an individual perspective. This approach assesses …-based measures of agency costs. The risk premium can explain up to 37% of total compensation for higher-paid managers in large firms …

are less effective than they might be and explore an alternative explanation. Advancing a new, Group Dynamics Theory, I …

increased wage comparisons within firms with geographically-dispersed managers — firms with the greatest information frictions … prior to the rule change. We report three changes related to compensation after 1992 for division managers. First, within … firms with dispersed managers, division manager pay co-moves more with peer pay and is less sensitive to individual …

occur at senior levels, while more tactical knowledge resides with managers lower down in the organization. Senior … that affect managerial choices, i.e. a firm's "tolerance for failure" towards managers of NPD initiatives. We account for … for failure is low. Furthermore, we find that the organizational penalty imposed upon managers can have a significant …