The question of protecting forests under an international binding convention has challenged nations like few other environmental issues and dominated much of the "United Nations Conference on Environment and Development" (UNCED) in 1992, where countries ultimately adopted a set of...

Relative performance evaluation (RPE) intensifies competitive pressure by tying executive compensation to the profits of rivals. We show that these contracts make loan syndication harder by reducing banks’ willingness to participate in loans underwritten by banks named in their RPE contracts....