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Behavioral Corporate Finance : The Life Cycle of a CEO Career

Guenzel, Marius; Malmendier, Ulrike - 2022

, selection does not impede the promotion of behavioral managers. Instead, competitive environments oftentimes promote their …

Persistent link: https://www.econbiz.de/10013405095

Mentoring and Diversity

Athey, Susan; Avery, Christopher; Zemsky, Peter - 2021

This paper studies the forces which determine how diversity at a firm evolves over time. We consider a dynamic model o a single firm with two levels of employees, the entry level and the upper level. In each period, the firm selects a subset of the entry-level workers for promotion to the upper...

Persistent link: https://www.econbiz.de/10013235606

Fund Managers, Career Concerns, and Asset Price Volatility

Guerrieri, Veronica - 2010

We propose a model where investors hire fund managers to invest either in risky bonds or in riskless assets. Some … managers have superior information on the default probability. Looking at the past performance, investors update beliefs on … their managers and make firing decisions. This leads to career concerns which affect investment decisions, generating a …

Persistent link: https://www.econbiz.de/10012757530

Risk Taking and Gender in Hierarchies

Scotchmer, Suzanne - 2022

In a labor market hierarchy, promotions are affected by the noisiness of information about the candidates. I study the … higher survival rate. Further, even if more risk takers than non risk takers are promoted in the beginning of the hierarchy …

Persistent link: https://www.econbiz.de/10013309243

Behavioral Effects of Student Loan Repayment Plan Options on Borrowers’ Career Decisions : Theory and Experimental Evidence

Abraham, Katharine G. - 2018

We study the effects of available student loan repayment plans on borrowers' career choices. By removing the risk of loan default, income driven repayment (IDR) plans make higher-paying but riskier jobs more attractive to those with moderate skill levels. We present experimental evidence that...

Persistent link: https://www.econbiz.de/10012914724

Incentives and Careers in Organizations

Gibbons, Robert - 2021

the discussion of incentives, I first summarize theory and evidence related to the classic agency model, which emphasizes … economics); I identify ten basic questions that merit more systematic investigation. Turning to theory, I describe building …

Persistent link: https://www.econbiz.de/10013217206

Mobile Politicians : Opportunistic Career Moves and Moral Hazard

Altindag, Duha Tore - 2015

We exploit the randomness generated by a seat allocation mechanism utilized in Parliamentary elections that determines those politicians who get elected from a given district by a small margin, and those who lose. Using detailed information on personal attributes of more than 2,000 elected...

Persistent link: https://www.econbiz.de/10013017932

The Making of an Investment Banker : Macroeconomic Shocks, Career Choice, and Lifetime Income

Oyer, Paul E. - 2009

New graduates of elite MBA programs flock to Wall Street during bull markets and start their careers elsewhere when the stock market is weak. Given the transferability of MBA skills, it seems likely that any effect of stock returns on MBA placement would be short-lived. In this paper, I use a...

Persistent link: https://www.econbiz.de/10012767420

Optimal Incentive Contracts in the Presence of Career Concerns : Theory and Evidence

Gibbons, Robert; Murphy, Kevin James - 2021

This paper studies career concerns -- concerns about the effects of current performance on future compensation -- and describes how optimal incentive contracts are affected when career concerns are taken into account. Career concerns arise frequently: they occur whenever the market uses a...

Persistent link: https://www.econbiz.de/10013228250

The Allocation of Authority in Organizations : A Field Experiment with Bureaucrats

Bandiera, Oriana - 2020

hierarchy.Institutional subscribers to the NBER working paper series, and residents of developing countries may download this …

Persistent link: https://www.econbiz.de/10012841922