work for. We reject, however, the efficient pay hypothesis as CEO pay and the demand for managers increases in Germany in …The compensation of executive board members in Germany has become a highly controversial topic since Vodafone's hostile … unique panel data evidence of the 500 largest firms in Germany in the period 1977-2009 we test two prominent hypothesis in …

consequences. We study this dynamic in the context of female suffrage in Germany, a reform driven by activist elites but ultimately … socioeconomic records, we identify the political preferences of elite and non-elite women. We exploit variation in elite composition … observability of non-elite women in household records. Precincts with more elite women supported the socialliberal party that had …

by studying whether female managers and female owners of firms perceived corruption differently; (b) using survey … information at the firm level; and (c) employing a large sample of more than 100 countries. Results show that both female managers …

Better managers and managerial practices lead to better firm performance. Yet, little is known about what happens when … managers move across firms. Does a firm hiring a good manager improve its performance? If yes is there some valuable knowledge …-invariant ability of the manager as well as overall firm performance. We find that the export experience gained by managers in previous …

When managers have objectives beyond maximizing monetary profits, inefficiencies may arise. An increase in competition … may then force managers to improve the productivity of the firm in order to ensure survival. While this hypothesis has … received ample theoretical attention, empirical evidence is scarce, mainly because preferences of managers are typically …

Incentive compensation induces correlation between the portfolio of managers and the cash flow of the firms they manage …. This correlation exposes managers to risk and hence gives them an incentive to hedge against the poor performance of their …

. Agency theory’s insistence on linking the compensation of managers and directors as closely as possible to firm performance …