shareholders with a regular vote on executive pay. We apply a regression discontinuity design to the votes on shareholder …

Contrary to previous literature we hypothesize that labor's interest may well – like that of shareholders – aim at …

This paper considers the role mergers and acquisitions have on employment. First, it considers the importance of …. Second, it examines which individuals from which firms remain with the newly created entity after the takeover. Using a … active in the post-takeover period, with employees of the acquired firm being less likely to remain with the new entity in …

managers and thus possibly making China's listed firms less effective in solving the agency problem. As such, ownership …

takeover of Mannesmann in 2000 and it is again in the spotlight since the outbreak of the financial crisis of 2009. Based on … work for. We reject, however, the efficient pay hypothesis as CEO pay and the demand for managers increases in Germany in … difficult times when the typical firm size shrinks. We find further that domestic and global competition for managers has …

the business in accordance with their [the shareholders'] desires, which generally will be to make as much money as … maximizing shareholders to pick a manager who pursues this goal. We show in a formal model and in a series of lab experiments …