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The Chief Executive Officer (CEO) is pivotal in firm governance and is tasked with policy implementation and maximizing shareholder benefit. However, predicting CEO behaviour remains challenging, especially when considering CEO power (CEOP). Hence, this study explores the link between CEOP and...
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This paper analyses the causes of managerial change and the impact of different reforms on firm performance, using survey data from 300 Ukrainian firms. The main findings are: 1) ownership and competition are linked to managerial change: de novo firms but also privatised firms experienced less...
Persistent link: https://www.econbiz.de/10009755918
This paper studies insider privatization in transition economies. We show theoretically that the underperformance of … insider-privatized firms could be due to the manager-cum-owner's lack of incentives after privatization. A screening theory … privatization; in contrast, heavily discounted firms perform indistinguishably from government-owned firms …
Persistent link: https://www.econbiz.de/10014107516
It is the common understanding that private lenders evaluate and price the debt contract based on the credit rating, default risk and firm characteristics of the borrowing firms. This paper takes a different angel and investigates the extent to which the loan contract incorporates and reflects...
Persistent link: https://www.econbiz.de/10013034593
We empirically study the relation between managerial ownership and firm performance in a unique private firm setting. The simplicity of the ownership structure and nature of our sample firms helps isolate the incentive-aligning effect of managerial ownership from the influence of other effects....
Persistent link: https://www.econbiz.de/10013290126
This paper examines the human network of entrepreneurs, and demonstrates the secrets of effective top management teams. More specifically, among entrepreneurs, founders in particular are dynamic by nature and familiar with their own business. However, some lack good skills in marketing and...
Persistent link: https://www.econbiz.de/10014027544
This article examines the relationship between CEO characteristics and firm performance with a sample formed by the best performing CEOs in the world according to Harvard Business Review. The empirical analysis is based on descriptive statistics techniques and studies the universe of CEOs...
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