Wendell Fletcher, Katherine Gillman and Julie Fox Gorte
Significant changes are occurring in the work place, affecting some 10 percent of the work force each year. Although not all these workers need retraining, many of them are…
Abstract
Significant changes are occurring in the work place, affecting some 10 percent of the work force each year. Although not all these workers need retraining, many of them are finding that acquisition of a new skill is the key to keeping or regaining a good job. Retraining and reeducation are also important factors in U.S competitiveness. The greater the skills and better the education of the workforce, the more flexibly American businesses can adapt to intensifying world competition. Government programs and employers are, to some degree, providing retraining for adults, and workers are increasingly aware of its value. There are still unmet needs for adult training and education, however, especially among those who could benefit most — the less skilled and less educated.
Elizabeth A. Gordon, Elaine Henry and Darius Palia
Transactions between a firm and its own managers, directors, principal owners or affiliates are known as related party transactions. Such transactions, which are diverse and often…
Abstract
Transactions between a firm and its own managers, directors, principal owners or affiliates are known as related party transactions. Such transactions, which are diverse and often complex, represent a corporate governance challenge. This paper initiates research in finance on related party transactions, which have implications for agency literature. We first explore two alternative perspectives of related party transactions: the view that such transactions are conflicts of interest which compromise management’s agency responsibility to shareholders as well as directors’ monitoring functions; and the view that such transactions are efficient transactions that fulfill rational economic demands of a firm such as the need for service providers with in-depth firm-specific knowledge. We describe related party transactions for a sample of 112 publicly-traded companies, including the types of transactions and parties involved. This paper provides a starting point in related party transactions research.