We examine the role of information-based stock trading in affecting the risk-incentive relation. By incorporating an endogenous informed trading into an optimal incentive contracting model, we analytically show that, apart from reducing incentives, a greater risk increases the level of information-based trading which consequently enhances executive incentives and offsets the negative risk-incen...

The overall independence of a firm’s governance system depends not only on the independence of its board of directors but also on CEO influence over the other top executives. We find that board independence and independence from CEO influence in the executive suite are inversely related. Difference-in-difference estimates using a regulatory shock reveal that strengthening board independence wea...

At a press conference on 29 April 2004 there were gasps of awe from the audience as we announced that four clients of ours based in that country had achieved BS 7799-2 [1] attestation in less than four months each from a standing start. 1. Management BS 7799-2:2002 is a management standard. It is a tool for executive directors (and senior managers) and requires their leadership, involvement and...

* This paper represents the views of the authors and not those of the Asian Development Bank, its executive directors, or the member countries that they represent. Participants in lectures given by Jesus Felipe at Singapore’s Civil Service College and at the Singapore Economic Policy Forum in October 2010 made very useful comments and suggestions. Nevertheless, the usual disclaimer applies. Con...

ARE THE CHARACTERISTICS, GOALS, AND required skills of librariantrained managers who choose careers in nonlibrary, but libraryrelated, settings different from those of directors of libraries? This question will be explored by executives from two library-related organizations-one a not-for-profit library cooperative and one a private sector information vendor. Methodologies for exploring this to...

Department, Asian Development Bank. The author acknowledges the insightful comments and suggestions from Michael Alba and Niny Khor in the Asian Development Outlook 2010 workshop, which helped improve an earlier draft of this paper. The findings, views, and conclusions expressed in this paper do not necessarily represent the views or policies of the Asian Development Bank or those of the Execut...

The study examines the effect of monitoring characteristics on financial reporting quality Nigerian listed consumer goods firms for period nine years from 2011-2020. population consists all 21 as at 31st December. Multiple regression technique was employed data analysis. findings reveals that variables used in this significantly affect firms. It is therefore recommended among others that, compa...

The wide dispersion observed in prices for health services in seemingly competitive markets is not fully explained by physician or consumer characteristics, or by variations in quality of care. For a variety of reasons, including the urgent nature of consumption and the asymmetry of information, patients in the market for health services face high search costs. They balance the prospect of find...