Working Paper

Incentive Fees and Competition in Pension Funds: Evidence from a Regulatory Experiment

Concerned with excessive risk taking, regulators worldwide generally prohibit private
pension funds from charging performance-based fees. Instead, the premise underlying the regulation of private pension schemes (and other retail-oriented...Read more

Assaf Hamdani
Eugene Kandel
Yishay Yafeh
01 February 2016

Reputation Incentives of Independent Directors: Impacts on Board Monitoring and Adverse Corporate Actions

We find a large body of evidence that independent director reputation incentives can vary across directors and can significantly influence important board decisions and firm outcomes. Firms with a greater proportion of independent directors where...Read more

Ronald Masulis
01 July 2013