We analyze the impact of bad-tail risks on managerial pay functions, especially the decision to pay managers in stock or in options. In contrast to conventional wisdom, we find that options are often a superior vehicle for limiting managerial incentives to take bad-tail risks while providing incentives to exert effort. Arrangements similar to collar options are able to incent the desired projec...

Interpretation of managerial activity in terms of neuroscience is typically concerned with extreme behaviors such as corporate fraud or reckless investment (Peterson, 2007; Wargo et al., 2010a). This paper is concerned to map out the neurophysiological and cognitive mechanisms at work across the spectrum of managerial behaviors encountered in more day-to-day contexts. It proposes that the compe...

this study investigates empirically the value investors place in excess cash holdingand how managerial ability impact on the value of cash holding for iranianfirms from 2006 to 2014. in this research, managerial ability calculated by usingthe data envelopment analysis (dea). following the approach of faulkender andwang, we find that the relation between managerial ability and value of cash hold...

This paper introduces xTrust, a general purpose security framework that supports a wide range of applications and security mechanisms in a way that makes trust highly visible. It provides basic services for identifying paths between peers that are trusted for specific purposes, and for utilizing those paths for the trustworthy exchange of information. The design of the system is based on four g...

the objective of the present study was to identify managerial competencies. this study reviewed existing managerial competencies in a cultural context resulting in the development of a broad based psychometrically sound leadership questionnaire. the unit of analysis of the research was a theoretical and experimental research related to managerial competencies, provided from seventeen iranian an...