October 2011
The relationship between executive compensation and firm performance in the Kenyan banking sector
Economic theory of executive pay has focused on the design of optimal compensation schemes to align the interests of managers and shareholders. Agency theory has identified several factors by which these interests may differ; including the level of effort exerted by the manager and problems resulting from the unobservabilty of the agent’s relevant skills. The design of optimal compensation contracts essentially...
October 2011
Investigating tax fairness in eleventh century England: Evidence from Wiltshire estates
The Domesday Survey of 1086 recorded a wealth of information on the Anglo-Norman tax system. The survey data includes the tax assessments, incomes and resources of most estates in England. The assessments relate to an estate tax known as the geld. Details of the way the assessments were imposed and the rationale underlying the assessment process are no longer extant, but by analysing the relationships between...
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