BE Hermalin… - 2001 - nber.org
Page 1. NBER WORKING PAPER SERIES BOARDS OF DIRECTORS AS AN ENDOGENOUSLY
DETERMINED INSTITUTION: A SURVEY OF THE ECONOMIC LITERATURE Benjamin E.
Hermalin Michael S. Weisbach Working Paper 8161 http://www.nber.org/papers/w8161 ...
BE Hermalin… - Financial management, 1991 - JSTOR
Page 1. The Effects of Board Composition and Direct Incentives on Firm Performance
Benjamin E. Hermalin and Michael S. Weisbach Benjamin E. Hermalin is an Assistant
Professor of Economics at the University of California ...
BE Hermalin… - American Economic Review, 1998 - JSTOR
Page 1. Endogenously Chosen Boards of Directors and Their Monitoring of the CEO
By BENJAMIN E. HERMALIN AND MICHAEL S. WEISBACH * How can boards be
chosen through a process partially controlled by the CEO ...
BE Hermalin… - The RAND Journal of Economics, 1988 - JSTOR
Page 1. RAND Journal of Economics Vol. 19, No. 4, Winter 1988 The determinants
of board composition Benjamin E. Hermalin* and Michael S. Weisbach** We identify
factors that lead to changes among corporate directors. ...
P Aghion… - Journal of Law, Economics, & Organization, 1990 - JSTOR
A common reaction to legal restrictions on contracts is that they cannot improve efficiency. 1
Either the restrictions are not binding, in which case they have no effect, or they are binding,
in which case they prevent the parties from doing as they wish. As we show in this article, ...
BE Hermalin - The RAND Journal of Economics, 1992 - JSTOR
Page 1. RAND Journal of Economics Vol. 23, No. 3, Autumn 1992 The effects of competition
on executive behavior Benjamin E. Hermalin* Economists presume that competition spurs
afirm to be more efficient byforcing it to reduce its agency problems. ...
BE Hermalin - The Journal of Finance, 2005 - Wiley Online Library
Skip to Main Content. ...
R Adams, BE Hermalin… - 2008 - nber.org
Page 1. NBER WORKING PAPER SERIES THE ROLE OF BOARDS OF DIRECTORS
IN CORPORATE GOVERNANCE: A CONCEPTUAL FRAMEWORK AND SURVEY
Renée Adams Benjamin E. Hermalin Michael S. Weisbach ...
B Hermalin - 1997 - papers.ssrn.com
Abstract: This paper explores leadership within organizations. Leadership is distinct from
authority because following a leader is a voluntary rather than coerced activity of the
followers. This paper considers how a leader induces rational followers to follow her in ...
BE Hermalin… - Econometrica: Journal of the Econometric Society, 1991 - JSTOR
Page 1. Econometrica, Vol. 59, No. 6 (November, 1991), 1735-1753 MORAL HAZARD
AND VERIFIABILITY: THE EFFECTS OF RENEGOTIATION IN AGENCY BY BENJAMIN
E. HERMALIN AND MICHAEL L. KATZ' We examine ...
BE Hermalin… - Journal of Law, Economics, and …, 1993 - Oxford Univ Press
Page 1. 230 JLEO, V9 N2 Judicial Modification of Contracts Between Sophisticated
Parties: A More Complete View of Incomplete Contracts and Their Breach Benjamin
E. Hermalin and Michael L Katz University of California at Berkeley ...
AS Edlin… - 1997 - nber.org
Page 1. NBER WORKING PAPER SERIES CONTRACT RENEGOTIATION IN AGENCY
PROBLEMS Aaron S. Edlin Benjamin E. Hermalin Working Paper 6086 NATIONAL
BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts ...
B Hermalin - 1999 - papers.ssrn.com
Abstract: This is a draft of a chapter for the forthcoming Handbook of Corporate Culture. It
surveys some of the existing literature on the economics of corporate culture and discusses
how the existing literature on the economics of organization can be tied to research on ...
BE Hermalin - JL Econ. & Org., 1995 - HeinOnline
Page 1. 64 JLE0.V11N1 An Economic Analysis of Takings Benjamin E. Hermann
university of California at Berkeley This article identifies economically efficient rules
for governing compensation when the state takes private property. ...
BE Hermalin… - The RAND Journal of Economics, 1994 - JSTOR
Page 1. RAND Journal of Economics Vol. 25, No. 3, Autumn 1994 The determinants of efficiency
and solvency in savings and loans Benjamin E. Hermalin* and Nancy E. Wallace* We study
the efficiency and solvency of savings and loan institutions (thrifts). ...
BE Hermalin - The RAND Journal of Economics, 1994 - JSTOR
Page 1. RAND Journal of Economics Vol. 25, No. 4, Winter 1994 Heterogeneity in
organizational form: why otherwise identical firms choose different incentives for their
managers Benjamin E. Hermalin* Product-market competition ...
BE Hermalin… - RAND Journal of Economics, 2004 - JSTOR
Page 1. RAND Journal of Economics Vol. 35, No. 3, Autumn 2004 pp. 423-448 Sender
or receiver: who should pay to exchange an electronic message? Benjamin E. Hermalin*
and Michael L. Katz* We examine the pricing implications ...
BE Hermalin… - Information Economics and Policy, 2007 - Elsevier
L Eldenburg, BE Hermalin,
MS Weisbach… - Journal of Corporate …, 2004 - Elsevier
BE Hermalin… - 2007 - nber.org
Page 1. NBER WORKING PAPER SERIES TRANSPARENCY AND CORPORATE
GOVERNANCE Benjamin E. Hermalin Michael S. Weisbach Working Paper 12875
http://www.nber.org/papers/w12875 NATIONAL BUREAU ...
BE Hermalin… - Journal of Financial Economics, 2001 - Elsevier
BE Hermalin… - The Journal of Finance, 2012 - Wiley Online Library
... How to Cite. HERMALIN, BE and WEISBACH, MS (2012), Information Disclosure and Corporate
Governance. The Journal of Finance, 67: 195–234. doi: 10.1111/j.1540-6261.2011.01710.x.
Author Information. † Benjamin Hermalin is with the University of California, Berkeley. ...
[CITATION] The privatization of Fannie Mae and Freddie Mac: Implications for mortgage industry structure
B Hermalin… - Studies on Privatizing Fannie Mae and Freddie Mac, 1996
B Hermalin… - The Journal of Legal Studies, 1996 - JSTOR
We consider legal rules that determine the price at which minority shareholders can be
excluded from the corporate enterprise after a change in control. These rules affect
investment after such a change, as well as the probability of the change itself. Our ...
BE Hermalin… - Quantitative Marketing and Economics, 2006 - Springer
Page 1. Quant Market Econ (2006) 4:209–239 DOI 10.1007/s11129-005-9004-7
Privacy, property rights and efficiency: The economics of privacy as secrecy Benjamin
E. Hermalin · Michael L. Katz Received: 18 March 2005 ...
M Komai, M Stegeman… - The American economic review, 2007 - JSTOR
Page 1. Leadership and Information By MANA KOMAI, MARK STEGEMAN, AND
BENJAMIN E. HERMALIN* Researchers in management and political science believe
that leadership is important, but economists rarely study ...
BE Hermalin… - … Public Economics: Papers in Honour of …, 2000 - books.google.com
Page 24. 2 Corporate Diversification and Agency BENJAMIN E. HERMALIN AND
MICHAEL L. KATZ 1. Introduction A frequently stated motive for joint ventures,
conglomerate mergers, and investments in new lines of business ...
B Hermalin, AK Rose, PM Garber, A Crockett… - 1999 - nber.org
This paper provides a framework for understanding the risks to borrowers and lenders in
international capital flows. To isolate the features that are intrinsically international, we begin
by analyzing the financial system in a purely domestic context. This allows us to focus on ...
BE Hermalin - JL Econ. & Org., 1993 - HeinOnline
Page 1. JLEO, V9 N1 127 Managerial Preferences Concerning Risky Projects
Benjamin E. Hermalin University of California, Berkeley 1. Introduction Since at least
the time of Swalm (1966), there has been an awareness that ...
L Eldenburg, BE Hermalin,
MS Weisbach… - 2001 - nber.org
Page 1. NBER WORKING PAPER SERIES HOSPITAL GOVERNANCE, PERFORMANCE
OBJECTIVES, AND ORGANIZATIONAL FORM Leslie Eldenburg Benjamin E. Hermalin Michael
S. Weisbach Marta Wosinska Working Paper8201 http://www.nber.org/papers/w8201 ...
B Hermalin… - 2000 - papers.ssrn.com
Abstract: The standard economic model of decision making assumes a decision maker
makes her choices to maximize her utility or happiness. Her current emotional state is not
explicitly considered. Yet there is a large psychological literature that shows that current ...
BE Hermalin… - 2006 - nber.org
Page 1. NBER WORKING PAPER SERIES A FRAMEWORK FOR ASSESSING
CORPORATE GOVERNANCE REFORM Benjamin E. Hermalin Michael S. Weisbach
Working Paper 12050 http://www.nber.org/papers/w12050 ...
BE Hermalin - Journal of Economic Behavior & Organization, 2007 - Elsevier
[CITATION] Boards of Directors as an Endogenously Determined Institution: A Survey of the Economic Literature (Digest Summary)
BE Hermalin… - Economic Policy Review, 2003 - CFA Institute
BE Hermalin, AW Katz… - Handbook of law and economics, 2007 - Elsevier
B Hermalin - Contributions to Economic Analysis & …, 2002 - faculty.haas.berkeley.edu
Preface? Does an economics article warrant a preface? It does—or, at very least, might—
when it's fifteen years old. The first draft of this article appeared in. The s were a
golden era for contract theory: Thanks to the developments during the s in game ...
[CITATION] The effect of board composition on corporate performance
BE Hermalin… - Mirneo, University of California at Berkeley, 1987
BE Hermalin - Journal of Law, Economics, and Organization, 1999 - Oxford Univ Press
Page 1. JLEO, V15 N1 103 The Firm as a Noneconomy: Some Comments on
Holmstrom Benjamin E. Hermalin Cornell University Like so much of his work,
Professor Holmstrom's (1999) article is another “must read.” It is an ...
BE Hermalin… - The RAND Journal of Economics, 2006 - Wiley Online Library
Page 1. mss # Hermalin and Katz; art. # 11; RAND Journal of Economics vol. 37(3) RAND Journal
of Economics Vol. 37, No. 3, Autumn 2006 pp. 692–719 Your network or mine? The economics
of routing rules Benjamin E. Hermalin ∗ and Michael L. Katz ∗ ...
[CITATION] Higher education boards of trustees
BE Hermalin - Governing academia, 2004 - Cornell University Press Ithaca, NY
BE Hermalin… - Quantitative Marketing and Economics, 2008 - Springer
Page 1. Quant Market Econ (2008) 6:17–40 DOI 10.1007/s11129-007-9032-6 A model
of the effect of affect on economic decision making Benjamin E. Hermalin · Alice M.
Isen Received: 22 April 2004 / Accepted: 13 August 2007 ...
BE Hermalin… - Journal of Economics & Management …, 2011 - Wiley Online Library
Skip to Main Content. ...
[CITATION] Adverse Selection and Contract Length
B Hermalin - memo, MIT, 1986
BE Hermalin - Unpublished Manuscript, UC …, 2008 - businessinnovation.berkeley.edu
Page 1. Firm Value and Corporate Governance: Does the Former Determine the Latter?∗
Benjamin E. Hermalin† Abstract A common view, seemingly supported by empirical findings,
is that better corporate governance leads to better corporate performance. ...
N Economides… - 2011 - works.bepress.com
Page 1. University of California, Berkeley From the SelectedWorks of Benjamin
E. Hermalin October 2011 The Economics of Network Neutrality ...
BE Hermalin - 1988 - en.scientificcommons.org
BE Hermalin - … of Institutional and Theoretical Economics JITE, 2008 - ingentaconnect.com
Page 1. 76 Vague Terms: Contracting when Precision in Terms is Infeasible by BENJAMIN E.
HERMALIN∗ This article considers the consequence of incomplete contracts that arise due
to difficulties in precisely describing potentially relevant contingencies. ...
B Caillaud… - 2000 - faculty.haas.berkeley.edu
Page 1. Hidden-Information Agency Bernard Caillaud Benjamin E. Hermalin March 2000
Copyright cO 2000 by Bernard Caillaud and Benjamin E. Her- malin. All rights reserved.
Page 2. Caillaud and Hermalin Contents Contents 1 Introduction 1 ...
A Edlin… - 1998 - papers.ssrn.com
Abstract: This paper studies the ability of an agent and a principal to achieve the first-best
outcome when the agent invests in an asset that has greater value if owned by the principal
than by the agent. When contracts can be renegotiated, a well-known danger is that the ...
BE Hermalin, AW Katz… - Handbook of Law and …, 2006 - papers.ssrn.com
Page 1. Forthcoming in The Handbook of Law & Economics (final draft: June 5, 2006) Chapter
on the Law & Economics of Contracts Benjamin E. Hermalin, Avery W. Katz, and Richard Craswell
Contents 1 Introduction 1 1.1 The economic motive for contracts . . . . . 2 ...
[CITATION] Leadership and corporate culture
BE Hermalin - Draft of chapter for forthcoming Handbook of Organiza, 2007
RF Garbaccio, BE Hermalin… - Real Estate …, 1994 - Wiley Online Library
Page 1. Journal of the American Real Estate and Urban Economics Association 1994,
V22, 1: pp. 169-193 A Comparison of Nonparametric Methods to Measure Efficiency
in the Savings and Loan Industry Richard F. Garbaccio ...
BE Hermalin, A Katz… - The Handbook of Law and …, 2006 - ppge.ufrgs.br
Page 1. Forthcoming in The Handbook of Law & Economics (final draft: June 5, 2006) Chapter
on the Law & Economics of Contracts Benjamin E. Hermalin, Avery W. Katz, and Richard Craswell
Contents 1 Introduction 1 1.1 The economic motive for contracts . . . . . 2 ...
AS Edlin… - Econometrica, 2001 - Wiley Online Library
Page 1. Ž . Econometrica, Vol. 69, No. 5 September, 2001 , 13911395 IMPLEMENTING THE
FIRST BEST IN AN AGENCY RELATIONSHIP WITH RENEGOTIATION: A CORRIGENDUM BY
AARON S. EDLIN AND BENJAMIN E. HERMALIN 1 1. INTRODUCTION Ž . ...
BE Hermalin… - The RAND Journal of Economics, 2009 - Wiley Online Library
Skip to Main Content. ...
BE Hermalin - 1991 - escholarship.org
Page 1. -,,.-é?_;;i--fa or Department of Economics. UCB D '*=i_;?.i-3% mzmiics UC
Berkeley ' " E"; 1": 1 _ I Peer Reviewed Title: The Effects of Competition on Executive
Behavior Author: Hermalin, Beniamin E., Department of ...
[CITATION] vTrends in Corporate Governance, vJournal of Finance, forth) coming
B Hermalin - 2004
[CITATION] and_, 2001, Boards of Directors as an Endogenously Determined Institution: A Survey of the Economic Literature
B Hermalin… - NBER working paper
[CITATION] The Economics of Network Neutrality .NET Institute Working paper# 10-25
N Economides… - 2010 - December
[CITATION] Trends in Corporate Governance, forthcoming in Journal of Finance
BE Hermalin - 2004
[CITATION] A framework for assessing governance reform
BE Hermalin… - 2006 - … of Illinois as Urbana-Champaign and …
B Hermalin - 1990 - escholarship.org
Thus, a model of the provision of general training must explain cases in which general
training is under—provided, as well as cases in which it is provided. The model I present
here meets those criteria. It does so, by departing from the classic Becker (1975) model in ...
[CITATION] Adverse Selection, Short-Term Contracting, and the Underprovision of Onthe-Job Training
BE Hermalin - 2002 - Working Paper
BE Hermalin, L Li… - 2011 - mylaw2.law.usc.edu
Page 1. The Welfare Consequences of Legal System Improvement∗ Benjamin E. Hermalin,†
Larry Li,‡ and Tony Naughton§ Abstract This paper explores the consequences of an improving
legal system on an economy that can also rely on relational (informal) contract- ing. ...
[CITATION] Avery W. Katz–Richard Craswell 2006.'
BE Hermalin - Chapter on the Law & Economics of Contacts' in The …
[CITATION] Boards of Directors as an Endogenously Determined Institution: A Survey of the Economic Literature, 9 Econ
BE Hermalin… - Pol'y Rev, 2003
[CITATION] An Economic Analysis of Takings, 11J. L
BE Hermalin - Econ. & Org, 1995
[CITATION] The Effects of Board Composition and Direct Incentives on Firm Performance, 20Fin
BE Hermalin… - Mgmt, 1991
[CITATION] An economic analysis of takings Journal of Law
BE Hermalin - Economics & Organization, 1995
[CITATION] Judicial Modification of Contracts Between Sophisticated Parties
BE Hermalin… - A More Complete View of Incomplete Contracts and …
BE Hermalin… - 1991 - escholarship.org
Page 1. IY "1 artrm;-rat of Department of Economics. UCB “ UC Berkeley 1* -_ HUIIIICE
I Peer Reviewed Title: Contracting Between Sophisticated Parties: A More Complete
View of Incomplete Contracts and Their Breach Author ...
[CITATION] The determinants of board composition.‖
H Benjamin… - Rand Journal of Economics19, p589-606, 1998
[CITATION] VThe Determinants of Board Com& positionV
B Hermalin… - RAND Journal of Economics, 589&606, 1988
[CITATION] Leadership for the long term
BE Hermalin - J. Econ. Behav. Organ, 2007
[CITATION] A Unified View of Agency and Trade Under Renegotiation
AS Edlin, BE Hermalin, I Segal… - 1997 - Mimeo
BE Hermalin - 2008 - escholarship.org
Page 1. ...
BE Hermalin - Robert Gibbons and John - nccr-finrisk.uzh.ch
Page 1. Draft---Do not cite without author's permission Corporate Governance: A Critical
Assessment Benjamin E. Hermalin Contents 1 Introduction 1 2 What Is Corporate
Governance? 4 3 Threats and Responses 6 4 The Determination ...
BE Hermalin - … of Institutional and Theoretical Economics JITE, 2005 - ingentaconnect.com
Page 1. 303 What is Crime? by BENJAMIN E. HERMALIN∗ This article asks which
wrong doings should be considered criminal and which should be handled in some
different manner. The answer is that when the state's commitment ...
[CITATION] VThe Role of Boards of Directors in Coporate Governance: A Conceptual Framework & SurveyV
RB Adams, BE Hermalin… - 2008 - working paper
[CITATION] Boards of Directors as an Endogeneously Determined Institution: A Survey of the Economic Literature (working paper 2000)
MS Weisbach…
[CITATION] Boards of directors as an endogenously
BE Hermalin… - 2003
BE Hermalin… - University of California: Berkeley …, 2006 - faculty.haas.berkeley.edu
Page 1. INTERCARRIER COMPENSATION WITH ALL-YOU-CAN-EAT RETAIL
PRICING 14 March 2006 Benjamin E. Hermalin and Michael L. Katz* We are grateful
to Patrick Rey for helpful comments and suggestions. * Haas ...
[CITATION] The Role of Boards of Directors in Corporate Governance: A Conceptual Framework & Survey, Charles A
RB Adams, BE Hermalin… - 2010 - Dice Center Working Paper
BE Hermalin - Industrial Organization, 1996 - 129.3.20.41
Page 1. Organizational Fixed Costs and Organizational Structure Benjamin E. Hermalin
October 31, 1996 Abstract This paper shows how fixed costs can play an important role
in determining the structure of organizations. Applications ...
AS Edlin… - 1999 - Citeseer
Page 1. Renegotiation of Agency Contracts that are Contingent on Verifiable Signals¤
Aaron S. Edlin University of California Benjamin E. Hermaliny University of California First
Version: November 1996 This Version: December 1999 Abstract ...
B Hermalin - FRBSF Economic Letter, 1991 - econpapers.repec.org
... EconPapers has moved to http://EconPapers.repec.org! Please update your bookmarks.
The negative effects of lender liability. Benjamin Hermalin (). FRBSF Economic Letter,
1991, issue Sep 20. Keywords: Lender liability; Bank ...
[CITATION] Information and Leadership
M Komai, M Stegeman… - American Economic Review, 1997
[CITATION] Legal Restrictions on Private Contracts Can Enhance Efficiency, 6 JL ECON
P Aghion… - & ORGANIZATION, 1990
B Caillaud… - 1989 - escholarship.org
Abstract We analyze a principal-agent model under incomplete information where the
principal anticipates future interaction with a third party (eg regulators, the financial markets,
or product market cotnpetitors). Knowledge of the information affects the third party's ...
[CITATION] E. and Michael L. Katz. 2007.“The Economics of Product-Line Restrictions with an Application to the Network Neutrality Debate.”
B Hermalin - Information Economics and Policy
[CITATION] Economics and language in Handbook of Organizational Culture and Climate, edited by S. Cartwright et al
B Hermalin - 2001 - … , England: John Wiley & Sons, Ltd
[CITATION] Legal Restrictions on Private
P Aghion… - 1990
B Hermalin - 2005 - dl.is.vnu.edu.vn
Copyright cO2009 by Benjamin E. Hermalin. All rights reserved. ... List of Propositions,
Results, Rules, & Theorems ... 2.1 Elasticity and the Lerner Markup Rule . . . . . . . . . . . . . . . 19
2.2 Welfare Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 2.3 An Application . . . . . . . . . . . . . . . ...
[CITATION] Bankruptcy and Labor Contracts: The Use of Chapter 11 as a Decontracting Device
P Aghion… - 1988 - Mimeo (Massachusetts Institute of …
BE Hermalin - Unpublished MS. University of California, …, 2007 - faculty.haas.berkeley.edu
Page 1. Draft---Do not cite without author's permission Chapter on Leadership
and Corporate Culture Benjamin E. Hermalin Contents 1 Introduction 1 1.1 What
is Leadership? . . . . 1 1.2 What is Corporate Culture? . . . . ...
[CITATION] The E® ect of A® ect on Economic and Strategic Decision Making
BE Hermalin… - 2000 - mimeo
BE Hermalin - RG Ehrenberg, 2004 - author.ilr.cornell.edu
Page 1. Boards of Trustees in Higher Education: A Research Program Benjamin E. Hermalin
University of California at Berkeley Introduction Universities and colleges in the United States
are overseen by boards of trustees, regents, overseers, or similarly titled entities. ...
B Hermalin - 2010 - papers.ssrn.com
Abstract: A seller can make investments that affect a tradable asset's future returns. The
potential buyer of the asset cannot observe the seller's investment prior to trade, nor does he
receive any signal of it, nor can he verify it in anyway after trade. Despite this severe moral ...
B Hermalin… - 1998 - papers.ssrn.com
Abstract: We consider legal rules that determine the price at which minority shareholders
can be excluded from the corporate enterprise after a change in control. These rules affect
investment after such a change as well as the probability of the change itself. Our principal ...
[CITATION] Why Do Firms Change Their Board Composition?
BE Hermalin… - 1987 - … William E. Simon Graduate School of …
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