Pay for Short-Term Performance: Executive Compensation in Speculative Markets
We argue that the root cause behind the recent corporate scandals associated with CEO pay is the technology bubble of the latter half of the 1990s. Far from...
Read moreWe argue that the root cause behind the recent corporate scandals associated with CEO pay is the technology bubble of the latter half of the 1990s. Far from...
Read moreInvestor-driven “short-termism” is said to harm EU public firms’ ability to invest for the long term, prompting calls for the EU to better...
Read moreThis paper links the CEO’s concerns for the current stock price to reductions in real investment. We identify short-term concerns using the amount of...
Read moreThe big corporate governance debates nowadays concern the corporation’s time horizons, and the balance of power between shareholders and managers....
Read moreWe model blockholder governance as a sequential process, from less hostile private intervention, to confrontational public intervention, and...
Read moreA long-held view in corporate circles has been that furious rapid trading in stock markets has been increasing in recent decades, justifying corporate...
Read moreStock-market–driven short-termism is crippling the American economy, according to legal, judicial, and media analyses. Firms forgo the R&D...
Read moreThe notion of stock-market-driven short-termism relentlessly whittling away at the American economy’s foundations is widely accepted and highly...
Read moreThis paper looks at shareholder activism from the perspective of the revision of the EU Shareholder Rights Directive, which was approved by the European...
Read moreThis study examines whether the CEO uses share repurchases to sell her equity grants at inflated stock prices, a concern regularly voiced in politics and...
Read moreUsing the Sarbanes-Oxley Act of 2002 as a quasi-natural experiment to identify the impact of corporate governance reform on foreign exchange risk...
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