We study a principal-agent model in which the firm's manager is privately informed about a cost parameter and exerts unobservable cost reducing effort, while the owner can conduct costly audits to ...

TOKYO -- As managerial workers move up to higher positions, fewer of them put in the effort to know their subordinates and more ignore inconvenient opinions, a Japanese company's survey has found.

Environmental, social, and governance (ESG) investing in equity markets has surged for corporate firms, whose managerial efforts are disclosed and evaluated in favor of environmental, social, or ...