It is widely perceived that litigation costs and volume have skyrocketed. Part of a veritable flood, books with such titles as The Litigious Society and The Litigation Explosion lament the historical trends and their costs for society, and numerous efforts at tort reform have been implemented at the federal and local levels in an effort to turn the tide. Some of these reforms have aimed at an a...

We estimate a principal–agent model of moral hazard with longitudinal data on …rms and managerial compensation over two disjoint periods spanning 60 years to investigate increased value and variability in managerial compensation. We …nd exogenous growth in …rm size largely explains these secular trends in compensation. In our framework, exogenous …rm size works through two channels: Con‡icts of...

the purpose of this paper is to study how the characteristics of successful managers are somehow related to their programme in co-operatives. the study shows there is a significant relationship between managers' characteristics such as innovation, authority and leadership, with managerial skills, self confidence and degree of success. however, there is no correlation between intelligence, ...

The nonlinear relationship between corporate value (Tobin's Q) and managerial ownership is well documented. This has commonly been attributed to the onset of managerial entrenchment, which results in a decrease of corporate value for increasing levels of managerial holdings. We propose a more complex structure for the corporate value { managerial ownership function, which accounts for the e®ect...

The influence of the New Public Management (NPM) movement in Portuguese administrative reform has been one of the country’s noticeable trends in recent decades (Araújo 2001, 2002a; Rocha 2001). Many governments have aimed to introduce a new managerial rationality in public services. The literature about administrative reform shows that institutional bureaucracies resist change, particularly whe...

Soaring executive compensation during the past two decades has sparked an interest in CEO and other top management pay. We add a long-term perspective to this trend by constructing the first panel dataset to follow the compensation of top executives in large firms from 1936 to the present. The average real value of total compensation experienced three distinct phases: a sharp decline during Wor...

In this paper, we present a variant of Datalog language (we call it Datalog ) able to deal with weights on ground facts and to consequently compute a feedback result for the goal satisfaction. The weights are chosen from a proper c-semiring. In our context, our goal is to use this language as a semantic foundation for languages for expressing trust relationships. As a matter of fact, many of th...

Sharing sensitive information across security domains is an important requirement for knowledge intensive collaborative work, but such sharing may impose risks on security and privacy integrity. Research has increasingly recognized the role of trust in minimizing the risk of information sharing across untrusted or unknown entities. To this extent, trust negotiations[1][3][15][20] have emerged a...