Stockholm School of Economics

About: Stockholm School of Economics is a education organization based out in Stockholm, Sweden. It is known for research contribution in the topics: Population & Entrepreneurship. The organization has 1186 authors who have published 4891 publications receiving 285543 citations. The organization is also known as: Stockholm Business School & Handelshögskolan i Stockholm.

Serial CEO Incentives and the Structure of Managerial Contracts

Abstract: I explore CEOs' incentives to select firm strategies and to acquire firm-specific skills when a few potential employers seeking to hire experienced CEOs create incentives for job-hopping. Several features of managerial compensation, such as benchmarking of pay to larger and more prestigious companies, payments unrelated to past performance, unrestricted stock awards for highly paid CEOs, long-term incentives, and higher pay in companies granting long-term incentives, emerge in the optimal contract. I argue that the model can jointly explain the surge in U.S. CEO compensation and the differences in the structure and the level of managerial compensation across countries and across firms within a country.

Attitudes and Risk Perceptions of Stakeholders in a Nuclear Waste Siting Issue

Abstract: Stakeholders are often regarded as a critically important group in such issues as the siting of nuclear facilities. In this article, stakeholders were identified on the basis of self-reported activities with regard to a nuclear waste siting issue under debate in four communities. Data were obtained in an extensive mailed survey from a total of 2,548 respondents, approximately an equal number from each community. The overall response rate was 43.9%. Some of the results and telephone interviews with a sample of the nonrespondents indicated that the data are reasonably representative of the respective populations. Stakeholder activities were measured by 20 questions and combined with an index of stakeholder activity level, dichotomized at the 90th percentile. Stakeholders were found to have a higher level of education than others, but otherwise they did not differ in demographics. They did not tend to see risks in general as high, but were quite interested and involved in the nuclear waste siting issue. The stakeholder activity level correlated with risk perception and attitudes in the waste siting issue, but with different signs for those who were for and those who were opposed: stakeholders of both types had more extreme views than others, but in different directions. In addition, stakeholder opponents were much more likely to strongly espouse extreme statements regarding the project than were supporters who also were stakeholders. Implications for risk management and communication are discussed.

Urge incontinence. Quality of life and patients' valuation of symptom reduction.

Abstract: OBJECTIVE Previous studies have demonstrated the effect of incontinence, and urge incontinence in particular, on patients' quality of life. This study assessed the effects of urge incontinence on quality of life and measured the value of a reduction in symptoms. DESIGN A self-administered questionnaire was mailed to 591 patients with urge or mixed incontinence. 495 (83.8%) surveys were returned with complete quality of life and symptom data. Of the total sample, 411 patients received the willingness-to-pay (WTP) survey, from which 257 (62.53%) returns were judged complete and reliable. Information was collected about the number of micturitions and urinary leakages. Health-related quality of life (HR-QOL) was measured using the Short Form 36 (SF-36) Health Survey. Socioeconomic characteristics were also recorded. Value was assessed with a binary WTP question. MAIN OUTCOME MEASURES AND RESULTS Quality of life among the sample population was significantly lower in 5 of 8 dimensions compared with the general US population, and was significantly related to the severity of the symptoms in 6 of 8 dimensions. The median (mean) willingness to pay was $US27.24 ($US87.74) per month for a 25% reduction in micturitions and leakages, and $US75.92 ($US244.54) per month for a 50% reduction in micturitions and leakages. As expected, the willingness to pay was significantly related to the size of the reduction in micturitions and leakages, and household income. CONCLUSIONS Patients with incontinence perceive substantial benefits from a reduction in the number of micturitions and leakages.

Wage-setting Institutions as Industrial Policy

Abstract: Centralized wage-setting institutions compress relative wages. Motivated by this fact, we investigate the effects of centralized wage setting on the industry distribution of employment. We examine Sweden's industry distribution from 1960 to 1994 and compare it to the U.S. distribution over the same period. We relate U.S.-Swedish differences in the industry distribution and their evolution over time to the structure of relative wages between and within industries. The empirical results identify the rise and fall of centralized wage-setting arrangements as a major factor in the evolution of Sweden's industry distribution. The compression associated with centralized wage-setting shifted the industry distribution of Swedish employment in three respects: away from industries with high wage dispersion among workers, away from industries with a high mean wage, and, most powerfully, away from industries with a low mean wage. By the middle 1980s, these wage structure effects accounted for about 40 percent of U.S.-Swedish differences in the industry distribution. The dissolution of Sweden's centralized wage-setting arrangements beginning in 1983 led to widening wage differentials and a reversal in the evolution of U.S.-Swedish differences in industry structure.

The Relationship between Genes, Psychological Traits, and Political Participation

Abstract: Recent research demonstrates that a wide range of political attitudes, beliefs, and behaviors can be explained in part by genetic variation. However, these studies have not yet identified the mechanisms that generate such a relationship. Some scholars have speculated that psychological traits mediate the relationship between genes and political participation, but so far there have been no empirical tests. Here we focus on the role of three psychological traits that are believed to influence political participation: cognitive ability, personal control, and extraversion. Utilizing a unique sample of more than 2,000 Swedish twin pairs, we show that a common genetic factor can explain most of the relationship between these psychological traits and acts of political participation, as well as predispositions related to participation. While our analysis is not a definitive test, our results suggest an upper bound for a proposed mediation relationship between genes, psychological traits, and political participation.