On theoretical grounds, internal monitoring of top executives by the supervisory board is expected to result in positive abnormal returns subsequent to the announcement of their unanticipated forced departures. The empirical evidence is ambiguous and we analyze three non-competing explanations...

We use two large Dutch datasets to estimate the Risk Augmented Mincer equation and test for risk compensation in expected earnings. We replicate earlier findings of a positive premium for risk and a negative premium for skew and add confirmation of the key results if we control for individual...

How valuable are cognitive and social abilities for entrepreneurs’ incomes as compared to employees? We answer three questions: (1) To what extent does a composite measure of ability affect an entrepreneur's earnings relative to employees? (2) Do different cognitive abilities (e.g. math...