This chapter provides a review of the broad field of the literature on control and
accountability, which is generally seen as being encompassed within the domain of …

Rising income inequality from the mid-1990s to the present was characterized by rapid
income growth among top earners and new patterns of employment and income pooling …

This paper develops a simple equilibrium model of CEO pay. CEOs have different talents
and are matched to firms in a competitive assignment model. In market equilibrium, a CEO's …

Corporate governance is concerned with the resolution of collective action problems among
dispersed investors and the reconciliation of conflicts of interest between various corporate …

I define and analyze the agency costs of overvalued equity. They explain the dramatic
increase in corporate scandals and value destruction in the last five years; costs that have …

We analyze how directors with financial expertise affect corporate decisions. Using a novel
panel data set, we find that financial experts exert significant influence, though not …

Historically, bubbles are followed by crashes, which in turn are followed by punitive
legislation. The 1999–2003 era is fully consistent with this pattern….(Coffee, 2003a, p. 46) …

This article, which introduces the special issue on corporate governance cosponsored by
the Review of Financial Studies and the National Bureau of Economic Research (NBER) …

I demonstrate that acquisitions are accompanied by large, permanent increases in Chief
Executive Officer (CEO) compensation, which create strong financial incentives for CEOs to …

We examine the press' role in monitoring and influencing executive compensation practice
using more than 11,000 press articles about CEO compensation from 1994 to 2002 …