Drawing on agency theory and the behavioral agency model (BAM), this study aims to clarify the influence of executive stock options (ESOs) granted to the top management team (TMT) on firm risk taking. In addition, we also consider the effect of gender diversity in the TMT on the relationship...

<title>Abstract</title> This study analyzes the influence of ownership structure and the board of directors on top management team (TMT) pay levels in a sample of Spanish listed firms. When panel data methodology is applied, the results show that TMT pay level is affected by the supervisory effectiveness of...

Genetic algorithms (GAs) are appropriate when investors have the objective of obtaining mean-variance (VaR) efficient frontier as minimising VaR leads to non-convex and non-differential risk-return optimisation problems. However GAs are a time-consuming optimisation technique. In this paper, we...

This paper analyzes how the characteristics of boards and structure of ownership moderate a firm's capacity to adjust top management team (TMT) pay levels in the face of changes in its economic and complexity conditions. Using panel data from Spanish listed companies between 2003 and 2007, the...

This paper studies the determinants of the export activity of family SMEs, disentangling the three main dimensions that comprise the concept of familiness: power, experience, and culture. The results, using the F-PEC scale over a sample of 500 Spanish SMEs, show that this approach identifies the...

In this paper, we examine a sample of 2000 Spanish industrial firms over the period 2001–2010 to analyse whether the self-selection hypothesis explains the relationship between innovation and the export activity of the company. In addition, we analyse how productivity moderates that...