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作者：DeVaro, Jed; Kim, Jin-Hyuk; Vikander, Nick
作者单位：University of Colorado System; University of Colorado Boulder; University of Copenhagen
摘要：CEOs are routinely compensated for aspects of firm performance that are beyond their control. This is puzzling from an agency perspective, which assumes performance pay should be efficient. Working within an agency framework, we provide a rational for this seemingly inefficient feature of CEO compensation by invoking the idea of informal agreements, specifically the theory of relational contracting. We derive observable implications to distinguish relational from formal contracting and, using ...
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作者：Bhalotra, Sonia; Clots-Figueras, Irma; Iyer, Lakshmi
作者单位：University of Essex; Universidad Carlos III de Madrid; University of Notre Dame
摘要：We investigate whether the event of women being competitively elected as state legislators encourages subsequent political participation among women. Using a regression discontinuity design on Indian constituency level data, we find that female incumbents are more likely than male incumbents to re-contest and that there is a decline in the entry of new women candidates. This decline is most pronounced in states with entrenched gender bias and in male-headed parties, suggesting an intensificati...
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作者：Frederiksen, Anders; Kato, Takao
作者单位：Copenhagen Business School; IZA Institute Labor Economics; Colgate University; Columbia University; Rutgers University System; Rutgers University New Brunswick
摘要：Using Danish registry data covering the population of Danish workers, we provide new and robust evidence with external validity on the importance of the breadth of human capital for top management appointments, and support/enrich the human capital theory of corporate leadership by Gibbons and Waldman and Lazear. Our analysis allows for both internal promotion and external recruitment as means to achieve top management appointments, and yields additional findings: the breath of human capital is...
