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Managerial incentives and the efficiency of capital structure [PDF]

, 2001
We extend the literature on the effects of managerial entrenchment on capital structure to consider how safety-net subsidies and financial distress costs interact with managerial incentives to influence capital structure in U.S. commercial banking. Using cross-sectional data on publicly traded, highest-level U.S.
Joseph P. Hughes, Choon-Geol Moon, William W. Lang, Michael S. Pagano   +3 more
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Managerial control benefits and takeover market efficiency

Journal of Financial Economics, 2018
Abstract How and to what extent do managerial control benefits shape the efficiency of the takeover market? We revisit this question by estimating both the dark and bright sides of managerial control benefits in an industry equilibrium model. On the dark side, managers’ private benefits of control distort firms’ takeover incentives and hinder the ...
Wenyu Wang, Yufeng Wu
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MANAGERIAL METHODOLOGIZATION AND ITS IMPACT ON THE MANAGERIAL EFFICIENCY AND EFFECTIVENESS [PDF]

Review of General Management, 2011
Management methodologization is one of the most important solutions of organizational efficientization and is materialized in promotion and use of modern management tools (systems, methods, techniques) and rigorous methodological elements of engineering/reengineering and maintenance of management operation (methodologies, procedures, standards etc ...
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THE MEASUREMENT OF MANAGERIAL EFFICIENCY IN AGRICULTURE*

Journal of Agricultural Economics, 1970
This paper is an outline only of a Ph.D. thesis submitted to the University of Nottingham. The paper proposes a socio‐economic model of farm production with special emphasis placed on the role of management: formulates an econometric model, to represent the socio‐economic model, in which the degree of managerial efficiency appears as a variable, and ...
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Measuring Managerial Efficiency: The Case of Baseball

Southern Economic Journal, 1982
In economic analysis the role of the entrepreneur is paramount to the production process. The entrepreneur is engaged in a Darwinian game of efficiently transforming scarce resource inputs into outputs. In the modern business organization this role is delegated to managers.
Philip K. Porter, Gerald W. Scully
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Environmental Efficiency, Firm Efficiency, and Managerial Ability*

2019
Abstract The purpose of this study is twofold. First, the author posits and finds a significant positive relation between environmental performance (i.e., environmental efficiency) and firm performance (i.e., firm efficiency) by using a large panel sample from 1987 to 2015. The results are consistent with the notion in prior research (
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Managerial Efficiency and Bank Profitability

Journal of Financial Markets and Governance
We study the relationship between managerial efficiency and bank profitability in the context of the U.S. banking sector. We utilize Stochastic Frontier Analysis based on a dataset of 4081 U.S. banks, spanning from 2009 to 2021. Two key findings emerge: firstly, geographical disparities exist in operating cost efficiency, with banks in more developed ...
Md. Asif Nawaz, Md. Jahir Uddin Palas, Tasneema Khan   +2 more
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Airports' managerial practices and efficiency

2019
Airports performance differences require a better understanding of the sources of efficiency and competitive advantages. The globalisation of the air transport industry and transformation of aviation organizations into a market-orientated business implicitly requests consideration of the implication of managerial knowledge and experience.
Ripoll Zarraga, Ane Elixabete, Huderek-Glapska, Sonia   +1 more
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Mergers, managerial incentives, and efficiencies [PDF]

, 2014
We analyze the effects of synergies from horizontal mergers in a Cournot oligopoly where principals provide their agents with incentives to cut marginal costs prior to choosing output. We stress that synergies come at a cost which possibly leads to a countervailing incentive effect: The merged firm's principal may be induced to stifle managerial ...
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Socially Efficient Managerial Dishonesty

2005
As a reaction to the corporate scandals of the early 2000s, the US Administration dramatically tightened sanctions against managers who disclose misleading financial information. This paper argues that such a reform might come with some unpleasant macroeconomic effects.
Besancenot, Damien, Vranceanu, Radu
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