We develop a dynamic structural model to examine the e¤ects of di¤ering beliefs of the manager and outsider investors regarding the pro…tability of a …rm’s projects and managershareholder agency con‡icts on its capital structure. The manager receives dynamic incentives through explicit contracts with shareholders whose implementation through …nancial securities leads to a dynamic capital struct...

Earlier studies have revealed age-dependent differences in perception by dynamic touch. In the present study, we examined whether the capacity to learn deteriorates with aging. Adopting an ecological approach to learning, the authors examined the process of attunement--that is, the changes in what informational variable is exploited. Young and elderly adults were trained to perceive the lengths...

The 2014 Indian general election marked a single party – the Bharatiya Janata Party, winning a majority of seats in Lok Sabha, the first time since the 1984 election. The Congress, the other main national party, suffered its worst ever defeat. This election was termed by some as a 'critical election' signalling the advent of a new phase of a ‘BJP dominated’ party system in India. In this paper,...

The 2014 Indian general election marked a single party – the Bharatiya Janata Party, winning a majority of seats in Lok Sabha, the first time since the 1984 election. The Congress, the other main national party, suffered its worst ever defeat. This election was termed by some as a 'critical election' signalling the advent of a new phase of a ‘BJP dominated’ party system in India. In this paper,...

Does Mental Productivity Decline with Age? Evidence from Chess Players We use data on international chess tournaments to study the relationship between age and mental productivity in a brain-intensive profession. We show that less talented players tend to leave the game in the earliest phases of their career. When the effects of age on productivity vary with unobserved ability, commonly used fi...

The 2014 Indian general election marked a single party – the Bharatiya Janata Party, winning a majority of seats in Lok Sabha, the first time since the 1984 election. The Congress, the other main national party, suffered its worst ever defeat. This election was termed by some as a 'critical election' signalling the advent of a new phase of a ‘BJP dominated’ party system in India. In this paper,...

The 2014 Indian general election marked a single party – the Bharatiya Janata Party, winning a majority of seats in Lok Sabha, the first time since the 1984 election. The Congress, the other main national party, suffered its worst ever defeat. This election was termed by some as a 'critical election' signalling the advent of a new phase of a ‘BJP dominated’ party system in India. In this paper,...

Handling Editor: Stephanie Castro In this study, we develop and examine a model of leaders' impression management during organizational decline by elaborating on the roles of publicity, image concerns, and incentive compensation. We propose that the publicity of decline is an important antecedent of leaders' impression management during decline. We also examine how leaders' image concerns media...

Aging is associated with decline in a multitude of cognitive processes and brain functions. However, a growing body of literature suggests that agerelated decline in cognition can sometimes be reduced through experience, cognitive training, and other interventions such as fitness training. Research on cognitive training and expertise has suggested that age-related cognitive sparing is often qui...