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Board Bias, Information, and Investment Efficiency

Gregor, Martin; Michaeli, Beatrice - 2022

We study how interest alignment between CEOs and corporate boards affects investment efficiency. The model entails a CEO who encounters an investment project and decides either or not to present it for approval to a board of directors. The CEO may need to collect and report investment-relevant...

Persistent link: https://www.econbiz.de/10013313483

How CEO-Friendly Should Boards With Limited Attention Be?

Gregor, Martin; Michaeli, Beatrice - 2021

A revised version of this paper, titled "Board bias, information, and investment efficiency," is available here: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3965147A CEO who is an empire-builder reports information about an investment opportunity ("project"). Before approving or...

Persistent link: https://www.econbiz.de/10013313487

Public Governance of Central Banks : An Approach from New Institutional Economics

Oritani, Yoshiharu - 2013

central banks. First, Williamson's theory of "governance as integrity" (probity) is applied to the internal management of … central banks. Moe's theory of "public bureaucracy" is applied to the concept of central bank independence. Second, we apply … agency theory to the issues associated with central bank independence and accountability. Third, public choice theory is …

Persistent link: https://www.econbiz.de/10013094790

Regulating the Rulemakers : A Proposal for Deliberative Cost-Benefit Analysis

Nou, Jennifer - 2012

Modern risks are increasingly complex. Experts provide sober insights into the consequences of our regulatory choices. But these same risks also breed greater uncertainties and, thus, harder political decisions. Ever more urgent, then, becomes the need to ensure those decisions are transparent...

Persistent link: https://www.econbiz.de/10014219050

Gender and Board Activeness : The Role of a Critical Mass

Schwartz-Ziv, Miriam - 2015

This study analyzes detailed minutes of board meetings of business companies in which the Israeli government holds a substantial equity interest. Boards with at least three directors of each gender are found to be at least 79% more active at board meetings than those without such representation....

Persistent link: https://www.econbiz.de/10013037878

Committees and special interests

Felgenhauer, Mike; Grüner, Hans Peter - 2003

Some committees convene behind closed doors while others publicly discuss issues and make their decisions. This paper studies the role of open and closed committee decision making in presence of external influence. We show that restricting the information of interest groups may reduce the bias...

Persistent link: https://www.econbiz.de/10009635893

The Transitional Gains Trap

Carden, Art; Moore, Sarah - 2021

Persistent link: https://www.econbiz.de/10013214193

Public Transport in Delhi - Tragedy of the Commons, Again!

Kathuria, Nimit - 2009

WHAT IS the most immediate tool of empowerment you can provide a person? Ask an economist. Or ask a laborer who has been moved to the outskirts of the city as a part of the quot;big-progressive resettlement schemequot;. Or ask a student. The most likely answer you will get is:...

Persistent link: https://www.econbiz.de/10012718470

Committees and Special Interests

Felgenhauer, Mike; Gruner, H. P. - 2021

Persistent link: https://www.econbiz.de/10013319559

Privatization and the Law and Economics of Political Advocacy

Volokh, Alexander - 2014

A common argument against privatization is that private providers will self-interestedly lobby to increase the size of their market. In this Article, I evaluate this argument, using, as a case study, the argument against prison privatization based on the possibility that the private prison...

Persistent link: https://www.econbiz.de/10014054697

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