We analyze the optimal ownership, delegation and compensation structures when a manager is hired to run a firm and to …. Severance pay plays a key role in the optimal compensation scheme. Delegation is interpreted as a dual-board structure. …

This paper addresses the question of delegation in a partial contracting set-up, where only the control over actions is … with delegation, is valuable for the principal if she retains control over the second decision. Hence, this paper provides … a new rational for partial delegation: a transfer of control to the better-informed party can be used by the supervisor …

measure different types of fraud and to examine the influence of passengers' presumed information and income on the extent of … fraud. Results reveal that taxi drivers cheat passengers in systematic ways: Passengers with inferior information about …. Higher income seems to lead to more fraud. …

measure different types of fraud and to examine the influence of passengers' presumed information and income on the extent of … fraud. Results reveal that taxi drivers cheat passengers in systematic ways: Passengers with inferior information about …. Higher income seems to lead to more fraud. …

which managers could become entrenched, they already bear a large proportion of the costs and have therefore an incentive to …

Risk-neutral individuals take more risky decisions when they have limited liability. Risk-neutral managers may not when …

delegate additional authority in order to screen for managers of high ability. …