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Who's Paying Attention? Measuring Common Ownership and its Impact on Managerial Incentives

Gilje, Erik P. - 2019

We derive a measure that captures the extent to which overlapping ownership structures shift managers' incentives to …

Persistent link: https://www.econbiz.de/10012890898

Personnel Economics : Hiring and Incentives

Oyer, Paul E. - 2010

We survey the Personnel Economics literature, focusing on how firms establish, maintain, and end employment relationships and on how firms provide incentives to employees. This literature has been very successful in generating models and empirical work about incentive systems. Some of the...

Persistent link: https://www.econbiz.de/10013143759

The Impact of Competition on Management Quality : Evidence from Public Hospitals

Bloom, Nicholas - 2014

In this paper we examine the causal impact of competition on management quality. We analyze the hospital sector where geographic proximity is a key determinant of competition, and English public hospitals where political competition can be used to construct instrumental variables for market...

Persistent link: https://www.econbiz.de/10013069806

Fire in the Belly? Employee Motives and Innovative Performance in Startups Versus Established Firms

Sauermann, Henry - 2017

employees' greater willingness to bear risk. We discuss implications for research as well as for managers and policy makers …

Persistent link: https://www.econbiz.de/10012964403

Employee Ownership, Employee Attitudes, and Firm Performance

Kruse, Douglas; Blasi, Joseph R. - 2021

Employee ownership in U.S. companies has grown substantially in the past 20 years. This paper reviews and provides some meta-analyses on the accumulated evidence concerning the prevalence, causes, and effects of employee ownership, covering 25 studies of employee attitudes and behaviors, and 27...

Persistent link: https://www.econbiz.de/10013225135

CEO Overconfidence and Innovation

Galasso, Alberto - 2014

Are CEOs' attitudes and beliefs linked to their fims' innovative performance? This paper uses Malmendier and Tate's measure of overconfidence, based on CEO stock-option exercise, to study the relationship between a CEO's "revealed beliefs" about future performance and standard measures of...

Persistent link: https://www.econbiz.de/10013069805

What is CEO Overconfidence? Evidence from Executive Assessments

Kaplan, Steven N.; Sørensen, Morten; Zakolyukina, … - 2022

We use detailed assessments of CEO personalities to explore the option-based measure of CEO overconfidence, Longholder, introduced by Malmendier and Tate (2005a) and widely used in the behavioral corporate finance and economics literatures. Longholder is significantly related to several specific...

Persistent link: https://www.econbiz.de/10013403386

Corporate Resilience to Banking Crises : The Roles of Trust and Trade Credit

Levine, Ross - 2016

Are firms more resilient to systemic banking crises in economies with higher levels of social trust? Using firm …-level data in 34 countries from 1990 through 2011, we find that liquidity-dependent firms in high-trust countries obtain more … trade credit and suffer smaller drops in profits and employment during banking crises than similar firms in low-trust …

Persistent link: https://www.econbiz.de/10012994912

The Dark Side of Outside Directors : Do They Quit When They are Most Needed?

Fahlenbrach, Rüdiger - 2015

Outside directors have incentives to resign to protect their reputation or to avoid an increase in their workload when they anticipate that the firm on whose board they sit will perform poorly or disclose adverse news. We call these incentives the dark side of outside directors. We find strong...

Persistent link: https://www.econbiz.de/10013038902

Family Descent as a Signal of Managerial Quality : Evidence from Mutual Funds

Chuprinin, Oleg - 2016

We study the relation between mutual fund managers' family backgrounds and their professional performance. Using hand …-collected data from individual Census records on the wealth and income of managers' parents, we find that managers from poor families … deliver higher alphas than managers from rich families. This result is robust to alternative measures of fund performance …

Persistent link: https://www.econbiz.de/10012984776