The ECGI Working Paper series is a repository of academic research papers produced by ECGI Research members consisting of highly qualified and renowned academics from across the globe. The series is managed by a team of ECGI Editors and the papers focus on Corporate Governance topics in both Law and Finance fields.
Do employees who compare themselves to the CEO matter for executive compensation? We hypothesize employees who are behindness averse and compare their wage to the CEO’s pay. Using German establishment-level wage data, we indeed show that employee...Read more
Corporations play a crucial role in achieving a sustainable world. In achieving corporate sustainability, the current regulatory frameworks generally emphasize the role of the corporate board. However, today’s media suggest that institutional...Read more
We establish that the labor market helps discipline asset managers via the impact of fund liquidations on their careers. Using hand-collected data on 1,948 professionals, we find that top managers working for funds liquidated after persistently...Read more
