Abstract We study whether firms that are led by chief executive officers (CEOs) with law degrees (lawyer CEOs) have different credit ratings and costs of debt from other firms. Our sample consists Standard & Poor’s 1500 1992 to 2020, 9.2% which lawyer CEOs. find these better ratings, compared On average, their cost is 10% lower than CEOs without legal backgrounds. results robust specificati...

Total factor productivity is enhanced by e-collaboration’s ability to spread technical change. Economic surplus analysis allows business executives and policy-makers to assess the value of technical change. It can also be extended to assess e-collaboration in order to rationally steer investment opportunities. It is imperative for business executives and policy-makers to empirically assess the ...

We derive conditions under which limits on executive compensation can enhance efficiency and benefit shareholders (but not executives). Having its hands tied in the future allows a board of directors to credibly enter into relational contracts with executives that are more efficient than performance-contingent contracts. This has implications for the ideal composition of the board. The analysis...

We derive conditions under which state-imposed limits on executive compensation can enhance efficiency and benefit shareholders (but not executives). Having their hands tied in the future allows a board of directors to credibly enter into relational contracts with executives that are more efficient than performance-based contracts. This in turn can have implications for firm strategy and the id...

leadership and management competencies required of successful executives of nongovernmental social welfare organizations. This paper summarizes the discrete competencies, summarizes the unique components of leadership, distinguishes leadership from management; and, identifies the sources of power and authority executives may draw upon for these purposes. The paper goes on to identify the specif...

Excerpt] This paper presents estimates of the relationship between the performance and compensation of local building trades union leaders. A growing literature has revived the common-sense notion that organizations should structure the compensation of both their employees and their executives so as to encourage them to take actions consistent with the goals of the organizations. One way to min...