Showing 21 - 30 of 129,950
Persistent link: https://www.econbiz.de/10011538563
Does a worker who had a successful career have stronger or weaker incentives to manipulate his reputation than a worker who performed poorly? This paper presents a tractable model that allows us to study career concerns when the strength of a worker's incentives depends on his employment history...
Persistent link: https://www.econbiz.de/10013096875
This paper analyzes the impact of market structure on career concerns. Effort increases the probability that a skilled agent achieves a one-time breakthrough. Wages are based on assessed ability and on expected output. For any wage, the agent works too little, too late. Under short-term...
Persistent link: https://www.econbiz.de/10013075178
In a laboratory experiment I investigate the role of perceived own ability in a multi-task setting with career concerns under fixed wages and under financial incentives with a higher weight on the task measured with noise. I find that in the absence of career concerns participants allocate...
Persistent link: https://www.econbiz.de/10013151173
In a model where investors face uncertainty about the prevalence of skill among money managers, managers' collective … even moderately-performing managers are more likely to be good, so those managers may receive net inflows despite their … largest for moderately risky assets because, unlike the safest or riskiest assets, they expose managers to state …
Persistent link: https://www.econbiz.de/10012935480
quality managers are weeded out by the firm, and 2) high quality managers leave because firms are unable to adjust their …
Persistent link: https://www.econbiz.de/10012864757
This paper addresses the question of how bureaucratic incentives affect economic performance in China at the provincial level. This paper develops a novel model to measure promotion incentives of the Chinese provincial standing committee members from 1995 to 2015. Using machine learning...
Persistent link: https://www.econbiz.de/10012867096
In this paper we investigate the negative relationship between analysts' coverage and stocks idiosyncratic volatility. While prior research argues that analysts cause the low level of idiosyncratic risk because they lack access to firm-specific information we hypothesize that the causal relation...
Persistent link: https://www.econbiz.de/10013004785
Persistent link: https://www.econbiz.de/10012796121
In this paper we investigate the endogeneity of analysts' coverage decision. Specifically we argue that due to reputational concerns analysts avoid covering stocks with high levels of specific risk. Using three novel quasi-natural experiments we show that analysts' coverage drops after an...
Persistent link: https://www.econbiz.de/10013044607