We study the issue to managerial retention by examining the relation between managerial incentives and voluntary turnover. Our analysis uses a unique dataset which comprises of over 3,000 managerial turnovers about a third of which are voluntary. We find that firms that have a higher inequality...

We develop a model to show how agency conflicts between shareholders and managers, information processing and learning about project quality, manager synergies and bargaining power interact to affect a firm's internal organizational structure and the incentive compensation structures of its...

We investigate the relation between core specialization, earnings forecast accuracy, and the employment prospects of international equity analysts over the period 1996-2002. Specifically, we address the following issues: (1) Are analyst earnings forecasts more accurate for core stocks than for...