Finland experienced an extremely severe economic depression in the early 1990s. As a part of the government's crisis management policies, significant new legislation was passed that increased supervisory powers of financial market regulators and reformed bankruptcy procedures significantly...

Finland experienced an extremely severe economic depression in the early 1990s. As a part of the government's crisis management policies, significant new legislation was passed that increased supervisory powers of financial market regulators and reformed bankruptcy procedures significantly...

Purpose - The purpose of this paper is to review and summarize research into managerial incentives, merger activity, performance, and the use and structure of compensation to mitigate agency problems in the firm. Design/methodology/approach - The authors discuss studies of size elasticity and...

Purpose - The purpose of this paper is to examine the risk-incentive effect of CEO stock options in the banking industry. Design/methodology/approach - For a sample of industrial mergers, Williams and Rao find that the risk-incentive effect of CEO stock options is associated with higher...