We document that the cross-sectional variation in CEO pay levels has declined precipitously, both at the economy level and within industry and size
We present the first estimates of investment returns and distribution rates for U.S.
The paper offers a comparative perspective on the duty of loyalty – encompassing both rules that govern self-dealing and corporate opportunity tran
In July 2020, the European Commission published the “Study on directors’ duties and sustainable corporate governance” by EY.
We present a mechanism based on managerial incentives through which common ownership affects product market outcomes.
We compare mandatory risk retention, a cornerstone element of post-financial crisis regulation, in the US (Dodd Frank Act) and the EU (Capital Requ
We study the restructuring of the labor force after mergers and acquisitions. Overall restructuring is large.
Using the pay restriction imposed on CEOs of centrally administered state-owned enterprises (CSOEs) in China in 2009, we study the effects of limit