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In this paper, we investigate whether institutional investors intervene in firms in order to impact their incentive systems. We use metrics based on geographic distance between institutional investors as proxies for the intensity of their strategic interactions and plausible interventions. We...
Persistent link: https://www.econbiz.de/10012972928
In this paper, we develop and test a theory on the effect of institutional investor heterogeneity on CEO pay. Our theory predicts that institutional investors' incentives and capabilities to monitor CEO pay are determined by the fiduciary responsibilities, conflicts of interest, and information...
Persistent link: https://www.econbiz.de/10013142420
We examine team diversity and performance using the asset management industry as a laboratory. Employing political … improved decision-making due to more diverse perspectives and increased monitoring by heterogeneous team members. The benefits … of ideological diversity reverse when political polarization is higher, consistent with increased intra-team conflict …
Persistent link: https://www.econbiz.de/10012845857
corroborate these findings to reveal more pronounced effects when fund managers have stronger career incentives and are less …
Persistent link: https://www.econbiz.de/10013236397
This study examines the relationship between institutional investors and director remuneration in Malaysia against an important institutional backdrop of political connections. Our panel analysis of 434 firms from 1999 to 2003 finds a negative relationship between institutional ownership and...
Persistent link: https://www.econbiz.de/10014176193
. 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 …
Persistent link: https://www.econbiz.de/10012904639
. 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 …
Persistent link: https://www.econbiz.de/10012899926
intervention to measure the team characteristics and the leadership style of the managers, and we evaluate the pictures that teams … encouraging managers to monitor employees more closely, but at the same time, hampering their efforts to build team spirit … tournaments there was an additional prize for the branch manager). We also surveyed the branch managers and employees prior to our …
Persistent link: https://www.econbiz.de/10013247842
with managers from companies with different incentives, work habits and recruiting methods. In this paper, we investigate …, which occur in both compensation incentives and team composition. The results of a real effort experiment conducted with … managers within a large pharmaceutical company not only show that changes in compensation incentives affect performance but …
Persistent link: https://www.econbiz.de/10013319438
In teamwork settings, providing effective leadership can be challenging for team leaders due to multitasking and the …, which can ultimately impede the productivity of the team. To address this problem, we conduct a field experiment at a … manufacturing firm, introducing a relative subjective performance evaluation of team leaders' leadership activities by their …
Persistent link: https://www.econbiz.de/10014278019