This paper investigates the economic consequences of firms connected to organized crime (criminal firms) and shows that when a criminal firm is eliminated from an industry, the performance of non-criminal competitors significantly increases. We also show that the positive effect on the...

Mafia firms introduce distortions in the markets in which they operate, increasing the cost of doing business for peer firms. We investigate whether peers respond by increasing their tax avoidance and thus increasing funds available to compete with the Mafia firms. Using a sample of Italian...

Incentive compensation is a central concern in the relationship between the Chief Executive Officer (CEO) and the board of directors and between the CEO and shareholders. This book presents a focus on four key themes that are salient to the current debate on the consequences and determinants of...