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The Importance Of Executive Effort, Lee Edward Biggerstaff
The Importance Of Executive Effort, Lee Edward Biggerstaff
Doctoral Dissertations
Agency theory stipulates that managerial effort is important to shareholders and costly for managers to provide. Executives may provide sub-optimal levels of effort because shareholders cannot easily observe the day-to-day actions of managers and therefore have difficulties properly monitoring the effort provided by firm management. Researchers also face the challenge of measuring executive effort. In this dissertation, I use an observable measure of leisure consumption to proxy for the effort provided by executives to study the impact of executive effort on firm outcomes.
In the first essay, I focus on Chief Executive Officers (“CEOs”) and the impact of their effort …