We address four empirical questions in this paper. Is there empirical support for: 1) the risk-incentives tradeoff predicted by agency theory? 2) a positive relationship between authority and incentives? 3) a positive relationship between risk and authority? 4) the main testable implication of...

This paper reconsiders the issue of share price reactions to dividend announcements. Previous papers rely almost exclusively on a naive dividend model in which the dividend change is used as a proxy for the dividend surprise. We use the difference between the actual dividend and the analyst...

The most influential theory of corporate governance, principal agency theory, does not take into consideration that the key task of modern corporations is to generate and transfer firm-specific knowledge. It proposes that, in order to overcome the widespread corporate scandals, the interests of...

Corporate scandals, reflected in excessive management compensation and fraudulent accounts, cause considerable damage. Agency theory's insistence on linking the compensation of managers and directors as closely as possible to firm performance is a major reason for these scandals. They cannot be...

Peer reviews and rankings today are the backbone of research governance, but recently came under scrutiny. They take explicitly or implicitly agency theory as a theoretical basis. The emerging psychological economics opens a new perspective. As scholarly research is a mainly curiosity driven...

This study seeks to see the level of impacts that different corporate governance mechanisms has on financial performance of banks in Ethiopia. Explanatory research design was used in establishing the casual effect relationship between corporate governance variables and banks financial...

Family business literature shows that family and nonfamily firms differ with respect to their financial reporting decisions. However, although the literature on financial reporting in fami - ly firms has developed over the last ten years, it is mostly oriented towards earnings management and...

Based on the agency theory, this paper analyzes whether family firms pay more dividends compared to no-family firms and identifies whether the board composition affects the dividend policy. Brazil and Chile have established mandatory dividends, retain lower cash holdings, pay higher dividends...

Algorithmic decision-making (ADM) systems have come to support, pre-empt or substitute for human decisions in manifold areas, with potentially significant impacts on individuals' lives. Achieving transparency and accountability has been formulated as a general goal regarding the use of these...

This dissertation examines the forces that drive organizational structure andboundary decisions. Using theoretical concepts drawn from transaction cost theory andagency theory, this dissertation develops a model that draws attention to behavioral andoutcome distinctions in information flow....