Federal Reserve Bank of New York Economic Policy Review

Publication covering business, finance, and economic issues.

Articles from Vol. 9, No. 1, April

A Survey of Blockholders and Corporate Control
I. INTRODUCTIONThe notion of diffuse stock ownership is well entrenched among economists. It started with Adam Smith's legendary warning in Wealth of Nations about the "negligence and profusion" that will result when those who manage enterprises are...
A Survey of Blockholders and Corporate Control. (Part 1: A Review of the Literature on Corporate Governance)
1. INTRODUCTION The notion of diffuse stock ownership is well entrenched among economists. It started with Adam Smith's legendary warning in Wealth of Nations about the "negligence and profusion" that will result when those who manage enterprises...
Board of Directors as an Endogenously Determined Institution: A Survey of the Economic Literature. (Part 1: A Review of the Literature on Corporate Governance)
1. INTRODUCTION Most organizations are governed by a board of directors. In fact, having a board is one of the legal requirements for incorporation. Many nonincorporated entities also have a governing board of some sort, such as a state university's...
Boards of Directors as an Endogenously Determined Institution: A Survey of the Economic Literature
1. INTRODUCTIONMost organizations are governed by a board of directors. In fact, having a board is one of the legal requirements for incorporation. Many nonincorporated entities also have a governing board of some sort, such as a state university's board...
Executive Equity Compensation and Incentives: A Survey
I. INTRODUCTIONCorporate governance is generally considered to be the set of complementary mechanisms that help align the actions and choices of managers with the interests of shareholders. Monitoring actions by the board of directors, debtholders, or...
Executive Equity Compensation and Incentives: A Survey. (Part 1: A Review of the Literature on Corporate Governance)
1. INTRODUCTION Corporate governance is generally considered to be the set of complementary mechanisms that help align the actions and choices of managers with the interests of shareholders. Monitoring actions by the board of directors, debtholders,...
Incentive Features in CEO Compensation in the Banking Industry
1. INTRODUCTIONThe topic of corporate governance in general, and top-management compensation in particular, has received enormous attention in recent years.1 Although an increasing literature has examined various aspects of the corporate governance of...
Incentive Features in CEO Compensation in the Banking Industry. (Part 2: The Governance of Banks)
1. INTRODUCTION The topic of corporate governance in general, and top-management compensation in particular, has received enormous attention in recent years. (1) Although an increasing literature has examined various aspects of the corporate governance...
Introduction
Few issues in the literature on corporate finance and organizational behavior have received as much attention in recent years as corporate governance. In the United States and in other countries, there is new interest in how firms' decision-making...
Is Corporate Governance Different for Bank Holding Companies?
1. INTRODUCTIONIn the wake of the recent corporate scandals, corporate governance practices have received heightened attention. Shareholders, creditors, regulators, and academics are examining the decision-making process in corporations and other organizations...
Is Corporate Governance Different for Bank Holding Companies? (Part 2: The Governance of Banks)
1. INTRODUCTION In the wake of the recent corporate scandals, corporate governance practices have received heightened attention. Shareholders, creditors, regulators, and academics are examining the decision-making process in corporations and other...
The Corporate Governance of Banks
1. INTRODUCTIONFew public policy issues have moved from the wings to center stage as quickly and decisively as corporate governance.1 Virtually every major industrialized country as well as the Organisation for Economic Co-operation and Development and...
The Corporate Governance of Banks. (Part 2: The Governance of Banks)
1. INTRODUCTION Few public policy issues have moved from the wings to center stage as quickly and decisively as corporate governance. (1) Virtually every major industrialized country as well as the Organisation for Economic Co-operation and Development...
Transparency, Financial Accounting Information, and Corporate Governance
1. INTRODUCTIONVibrant public securities markets rely on complex systems of supporting institutions that promote the governance of publicly traded companies. Corporate governance structures serve: 1 ) to ensure that minority shareholders receive reliable...
Transparency, Financial Accounting Information, and Corporate Governance. (Part 1: A Review of the Literature on Corporate Governance)
1. INTRODUCTION Vibrant public securities markets rely on complex systems of supporting institutions that promote the governance of publicly traded companies. Corporate governance structures serve: 1) to ensure that minority shareholders receive...

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