Based on a two-million-observation panel dataset that matches public firms with detailed data on their employees, we find that entrenched managers pay their workers more. For example, our estimates show that CEOs with more control rights (votes) than all other blockholders together, pay their...

This volume contains a set of empirical papers by a set of global scholars who examine corporate governance and market regulation from a variety of perspectives. Jiang, Kim and Zhang argue that in certain cases an ex post increase in CEO pay can prevent the ex ante problem of managerial...

Advances in Financial Economics Volume 19 deals with International Corporate Governance, particularly the role played by boards of directors, internal organization design and governance mechanisms, franchise agreements, the effect of regulation and policy, the market for corporate control, and...