This paper presents a contracting model of governance based on the premise that CEOs are the main promoters of governance change. CEOs use their power to...
We present a mechanism based on managerial incentives through which common ownership affects product market outcomes. Firm-level variation in common...
There is a widespread belief among observers that a lower premium is paid when the target CEO is retained by the acquirer in a private equity deal because...
Relative performance evaluation (RPE) in CEO compensation can be used as a commitment device to pay CEOs for their revealed relative talent. We find...
We examine the links between CEO overconfidence, the speed of adjustment (SOA) of cash holdings, and firm value for listed US firms. First, we find that...
Larger-than-life corporate leaders, who can move fast and disrupt entrenched players, are often perceived as having the vision, superior leadership,...