We survey recent theoretical research on the effects of short-term share-price based marginal incentive schemes. Such schemes can induce inefficient managerial behaviour in both hidden action and hidden type contexts. These problems arise from informational asymmetries: managers take actions to...

We survey recent theoretical research on the effects of short-term share-price based managerial incentive schemes. Such schemes can induce inefficient managerial behaviour in both hidden action and hidden type contexts. These problems arise from informational asymmetries: managers take actions...

Patronal groups represent a significant category of social organization; they are worthy and even necessary subjects of social science theory, and will require for adequate analysis models which address aspects and institutions of social life that seem inherently unstable, or at least that do...