This paper reviews the theoretical and empirical literature on executive compensation. We
start by presenting data on the level of CEO and other top executive pay over time and …

Of all actors involved in managing an organizational crisis, strategic leaders play a
particularly central role. However, the growing scholarship on the impact of strategic leaders …

内容提要: 本文通过研究上市公司经营者的任职状况, 报酬结构与企业绩效之间的关系, 发现:
经营者的持股比例与经营绩效有显著性弱相关关系; 报酬水平的激励强度更多的与“横向”“纵向” …

In the corporate finance tradition, starting with Berle and Means (1932), corporations should
generally be run to maximize shareholder value. The agency view of corporate social …

We hypothesize that CSR serves as a control mechanism to reduce deviations from optimal
risk taking, and therefore, CSR curbs excessive risk taking and reduces excessive risk …

In this paper, we provide a theoretical and empirical framework that allows us to synthesize
and assess the burgeoning literature on CEO overconfidence. We also provide novel …

We present a mechanism based on managerial incentives through which common
ownership affects product market outcomes. Firm-level variation in common ownership …

Building on two sources of exogenous shocks to analyst coverage (broker closures and
mergers), we explore the causal effects of analyst coverage on mitigating managerial …

This article examines managers' incentive to play it safe. We find that, after managers are
insulated by the adoption of an antitakeover law, they take value-destroying actions that …

We show that measurable managerial characteristics have significant explanatory power for
corporate financing decisions. First, managers who believe that their firm is undervalued …