Credit Rating Agencies (CRAs) such as Standard & Poor's and Moody's have existed since the beginning of the 20th century. Their main objective is to increase the efficiency of the financial markets by producing ratings expressing the creditworthiness of companies with respect to loans and...

This study examines the widespread belief that executive pay should reflect firm performance. We compile a hand-collected data set of compensation paid to executive directors of Dutch listed companies and analyze if executive compensation is indeed determined by firm performance. A variety of...

This study examines the widespread belief that executive pay should reflect firm performance. We compile a hand-collected data set of compensation paid to executive directors of Dutch listed companies and analyze if executive compensation is indeed determined by firm performance. A variety of...