Details about Benjamin Hermalin

Homepage:	http://faculty.haas.berkeley.edu/hermalin/
Postal address:	University of California Haas School of Business S545 Student Services Bldg. #1900 Berkeley, CA 97420-1900
Workplace:	Department of Economics, University of California-Berkeley, (more information at EDIRC)

Access statistics for papers by Benjamin Hermalin.

Last updated 2023-12-05. Update your information in the RePEc Author Service.

Short-id: phe59

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Working Papers

2017

1. Assessing Managerial Ability: Implications for Corporate Governance
   Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics View citations (23)
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2017) View citations (23)
2. Biased Monitors: Corporate Governance When Managerial Ability is Mis-assessed
   NBER Working Papers, National Bureau of Economic Research, Inc
   See also Chapter Biased Monitors: Corporate Governance When Managerial Ability is Mis-assessed, NBER Chapters, National Bureau of Economic Research, Inc (2018) (2018)
   Journal Article Biased monitors: Corporate governance when managerial ability is mis-assessed, Journal of the Japanese and International Economies, Elsevier (2018) (2018)

2014

3. The Strategic Use of Download Limits by a Monopoly Platform
   Working Papers, New York University, Leonard N. Stern School of Business, Department of Economics View citations (2)
   Also in Working Papers, NET Institute (2013) View citations (2)
   See also Journal Article The strategic use of download limits by a monopoly platform, RAND Journal of Economics, RAND Corporation (2015) View citations (27) (2015)
4. Understanding Corporate Governance Through Learning Models of Managerial Competence
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
   Also in Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics (2014) View citations (4)

2011

5. Information Disclosure and Corporate Governance
   SIFR Research Report Series, Institute for Financial Research View citations (2)
   Also in Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics (2009) View citations (5)
   See also Journal Article Information Disclosure and Corporate Governance, Journal of Finance, American Finance Association (2012) View citations (146) (2012)

2010

6. The Economics of Network Neutrality
   Working Papers, NET Institute View citations (9)
   Also in Working Papers, New York University, Leonard N. Stern School of Business, Department of Economics (2010) View citations (8)
   See also Journal Article The economics of network neutrality, RAND Journal of Economics, RAND Corporation (2012) View citations (117) (2012)

2009

7. Information and the Hold-Up Problem
   Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley View citations (18)
   See also Journal Article Information and the hold‐up problem, RAND Journal of Economics, RAND Corporation (2009) View citations (16) (2009)
8. The Role of Boards of Directors in Corporate Governance: A Conceptual Framework and Survey
   Working Paper Series, Ohio State University, Charles A. Dice Center for Research in Financial Economics View citations (12)
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2008) View citations (23)
   See also Journal Article The Role of Boards of Directors in Corporate Governance: A Conceptual Framework and Survey, Journal of Economic Literature, American Economic Association (2010) View citations (726) (2010)

2007

9. Transparency and Corporate Governance
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (40)

2006

10. A Framework for Assessing Corporate Governance Reform
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (17)
11. Customer or Complementor? Intercarrier Compensation with Two-Sided Benefits
    Competition Policy Center, Working Paper Series, Competition Policy Center, Institute for Business and Economic Research, UC Berkeley View citations (5)
    See also Journal Article Customer or Complementor? Intercarrier Compensation with Two‐Sided Benefits, Journal of Economics & Management Strategy, Wiley Blackwell (2011) View citations (13) (2011)
12. The Economics of Product-Line Restrictions With an Application to the Network Neutrality Debate
    Competition Policy Center, Working Paper Series, Competition Policy Center, Institute for Business and Economic Research, UC Berkeley
    See also Journal Article The economics of product-line restrictions with an application to the network neutrality debate, Information Economics and Policy, Elsevier (2007) View citations (99) (2007)

2001

13. Boards of Directors as an Endogenously Determined Institution: A Survey of the Economic Literature
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (139)
    See also Journal Article Boards of directors as an endogenously determined institution: a survey of the economic literature, Economic Policy Review, Federal Reserve Bank of New York (2003) View citations (854) (2003)
14. Hospital Governance, Performance Objectives, and Organizational Form
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (6)
15. Implementing the First Best in an Agency Relationship with Renegotiation: A Corregendum
    Berkeley Olin Program in Law & Economics, Working Paper Series, Berkeley Olin Program in Law & Economics View citations (1)
    See also Journal Article Implementing the First Best in an Agency Relationship with Renegotiation: A Corrigendum, Econometrica, Econometric Society (2001) View citations (1) (2001)

2000

16. Corporate Diversification and Agency
    Economics Working Papers, University of California at Berkeley View citations (5)
    Also in Research Program in Finance Working Papers, University of California at Berkeley (2000) View citations (5)
    Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley (1994) View citations (1)
    Research Program in Finance, Working Paper Series, Research Program in Finance, Institute for Business and Economic Research, UC Berkeley (2000) View citations (4)
    Industrial Organization, University Library of Munich, Germany (1996)
    Finance, University Library of Munich, Germany (2000) View citations (7)
    Economics Working Papers, University of California at Berkeley (1994) View citations (1)
17. The Effect of Affect on Economic and Strategic Decision Making
    Econometric Society World Congress 2000 Contributed Papers, Econometric Society View citations (19)
    Also in Method and Hist of Econ Thought, University Library of Munich, Germany (2000) View citations (16)
    Economics Working Papers, University of California at Berkeley (1999) View citations (13)
    Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley (1999) View citations (13)

1999

18. Risks to Lenders and Borrowers in International Capital Markets
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (20)
    See also Chapter Risks to Lenders and Borrowers in International Capital Markets, NBER Chapters, National Bureau of Economic Research, Inc (1999) View citations (20) (1999)

1998

19. Buyouts in Large Companies
    Yale School of Management Working Papers, Yale School of Management View citations (1)
    See also Journal Article Buyouts in Large Companies, The Journal of Legal Studies, University of Chicago Press (1996) View citations (6) (1996)

1997

20. Contract Renegotiation in Agency Problems
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
    Also in Microeconomics, University Library of Munich, Germany (1997) View citations (2)
21. Firm Performance and Executive Compensation in the Savings and Loan Industry
    Finance, University Library of Munich, Germany View citations (2)
    See also Journal Article Firm performance and executive compensation in the savings and loan industry, Journal of Financial Economics, Elsevier (2001) View citations (27) (2001)
22. Toward an Economic Theory of Leadership: Leading by Example
    Microeconomics, University Library of Munich, Germany View citations (4)
    Also in Working Papers, University of California at Berkeley, Haas School of Business (1996)
    See also Journal Article Toward an Economic Theory of Leadership: Leading by Example, American Economic Review, American Economic Association (1998) View citations (302) (1998)

1996

23. Endogenously Chosen Boards of Directors and Their Monitoring of the CEO
    Working Papers, University of California at Berkeley, Haas School of Business View citations (21)
    Also in Microeconomics, University Library of Munich, Germany (1996) View citations (4)
    See also Journal Article Endogenously Chosen Boards of Directors and Their Monitoring of the CEO, American Economic Review, American Economic Association (1998) View citations (849) (1998)
24. Organizational Fixed Costs and Organizational Structure
    Industrial Organization, University Library of Munich, Germany

1992

25. Heterogeneity in Organizational Form: Why Otherwise Identical Firms Choose Different Incentives for Their Managers
    Economics Working Papers, University of California at Berkeley View citations (7)
    Also in Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley (1992) View citations (4)
    See also Journal Article Heterogeneity in Organizational Form: Why Otherwise Identical Firms Choose Different Incentives for Their Managers, RAND Journal of Economics, The RAND Corporation (1994) View citations (55) (1994)
26. Nonparametric Methods to Measure Efficiency: A Comparison of Methods
    Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley
    Also in Economics Working Papers, University of California at Berkeley (1992)
27. The Determinants of Efficiency and Solvency in Savings and Loans
    Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley
    Also in Economics Working Papers, University of California at Berkeley (1992)
    See also Journal Article The Determinants of Efficiency and Solvency in Savings and Loans, RAND Journal of Economics, The RAND Corporation (1994) View citations (44) (1994)

1991

28. Contracting Between Sophisticated Parties: A More Complete View of Incomplete Contracts and Their Breach
    Economics Working Papers, University of California at Berkeley View citations (1)
    Also in Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley (1991) View citations (1)
29. Managerial Preferences Concerning Risky Projects
    Economics Working Papers, University of California at Berkeley
    See also Journal Article Managerial Preferences Concerning Risky Projects, The Journal of Law, Economics, and Organization, Oxford University Press (1993) View citations (29) (1993)
30. The Effects of Board Composition and Direct Incentives on Firm Performance
    Working Papers, Rochester, Business - Financial Research and Policy Studies View citations (530)
    See also Journal Article The Effects of Board Composition and Direct Incentives on Firm Performance, Financial Management, Financial Management Association (1991) View citations (550) (1991)
31. The Effects of Competition on Executive Behavior
    Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley
    Also in Economics Working Papers, University of California at Berkeley (1991) View citations (3)
    See also Journal Article The Effects of Competition on Executive Behavior, RAND Journal of Economics, The RAND Corporation (1992) View citations (135) (1992)
32. The Use of an Agent in a Signaling Model
    Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley
    Also in CEPREMAP Working Papers (Couverture Orange), CEPREMAP (1991)
    Economics Working Papers, University of California at Berkeley (1991) View citations (1)
    See also Journal Article The Use of an Agent in a Signalling Model, Journal of Economic Theory, Elsevier (1993) View citations (12) (1993)

1990

33. Adverse Selection, Short-Term Contracting, and the Underprovision of On-the-Job Training
    Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley View citations (4)
    Also in Economics Working Papers, University of California at Berkeley (1990) View citations (6)
    See also Journal Article Adverse Selection, Short-Term Contracting, and the Underprovision of On-the-Job Training, The B.E. Journal of Economic Analysis & Policy, De Gruyter (2002) View citations (10) (2002)
34. Legal Restrictions on Private Contracts Can Enhance Efficiency
    DELTA Working Papers, DELTA (Ecole normale supérieure)
    See also Journal Article Legal Restrictions on Private Contracts Can Enhance Efficiency, The Journal of Law, Economics, and Organization, Oxford University Press (1990) View citations (112) (1990)
35. Moral Hazard and Verifiability: The Effects of Renegotiation in Agency
    Economics Working Papers, University of California at Berkeley View citations (7)
    Also in Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley (1990) View citations (1)
    See also Journal Article Moral Hazard and Verifiability: The Effects of Renegotiation in Agency, Econometrica, Econometric Society (1991) View citations (101) (1991)
36. The Effects of Competitive Pressures on Executive Behavior
    Economics Working Papers, University of California at Berkeley
    Also in Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley (1990)
37. Why Legal Restrictions on Private Contracts Can Enhance Efficiency
    Economics Working Papers, University of California at Berkeley View citations (90)
    Also in Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley (1990) View citations (51)

1989

38. Moral Hazard and Verifiability
    Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley
39. Role of outside considerations in the design of compensation schemes (the)
    CEPREMAP Working Papers (Couverture Orange), CEPREMAP View citations (2)
    Also in Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley (1989) View citations (2)

Journal Articles

2023

1. At the Helm, Kirk or Spock? The Pros and Cons of Charismatic Leadership
   American Economic Journal: Microeconomics, 2023, 15, (2), 465-92 View citations (3)

2018

2. Biased monitors: Corporate governance when managerial ability is mis-assessed
   Journal of the Japanese and International Economies, 2018, 47, (C), 70-80
   See also Working Paper Biased Monitors: Corporate Governance When Managerial Ability is Mis-assessed, NBER Working Papers (2017) (2017)
   Chapter Biased Monitors: Corporate Governance When Managerial Ability is Mis-assessed, NBER Chapters, 2018 (2018) (2018)

2016

3. Platform-Intermediated Trade with Uncertain Quality
   Journal of Institutional and Theoretical Economics (JITE), 2016, 172, (1), 5-29 View citations (2)
4. Why Whine about Wining and Dining?
   The Journal of Law, Economics, and Organization, 2016, 32, (1), 37-60

2015

5. The strategic use of download limits by a monopoly platform
   RAND Journal of Economics, 2015, 46, (2), 297-327 View citations (27)
   See also Working Paper The Strategic Use of Download Limits by a Monopoly Platform, Working Papers (2014) View citations (2) (2014)
6. When Less Is More: The Benefits of Limits on Executive Pay
   The Review of Financial Studies, 2015, 28, (6), 1667-1700 View citations (5)

2013

7. Product Differentiation through Exclusivity: Is there a One‐Market‐Power‐Rent Theorem?
   Journal of Economics & Management Strategy, 2013, 22, (1), 1-27 View citations (8)
8. The relational underpinnings of formal contracting and the welfare consequences of legal system improvement
   Economics Letters, 2013, 119, (1), 72-76 View citations (3)
9. Unobserved investment, endogenous quality, and trade
   RAND Journal of Economics, 2013, 44, (1), 33-55 View citations (9)

2012

10. Information Disclosure and Corporate Governance
    Journal of Finance, 2012, 67, (1), 195-234 View citations (146)
    See also Working Paper Information Disclosure and Corporate Governance, SIFR Research Report Series (2011) View citations (2) (2011)
11. The economics of network neutrality
    RAND Journal of Economics, 2012, 43, (4), 602-629 View citations (117)
    See also Working Paper The Economics of Network Neutrality, Working Papers (2010) View citations (9) (2010)

2011

12. Customer or Complementor? Intercarrier Compensation with Two‐Sided Benefits
    Journal of Economics & Management Strategy, 2011, 20, (2), 379-408 View citations (13)
    See also Working Paper Customer or Complementor? Intercarrier Compensation with Two-Sided Benefits, Competition Policy Center, Working Paper Series (2006) View citations (5) (2006)

2010

13. The Role of Boards of Directors in Corporate Governance: A Conceptual Framework and Survey
    Journal of Economic Literature, 2010, 48, (1), 58-107 View citations (726)
    See also Working Paper The Role of Boards of Directors in Corporate Governance: A Conceptual Framework and Survey, Working Paper Series (2009) View citations (12) (2009)

2009

14. Information and the hold‐up problem
    RAND Journal of Economics, 2009, 40, (3), 405-423 View citations (16)
    See also Working Paper Information and the Hold-Up Problem, Department of Economics, Working Paper Series (2009) View citations (18) (2009)

2008

15. A model of the effect of affect on economic decision making
    Quantitative Marketing and Economics (QME), 2008, 6, (1), 17-40 View citations (21)
16. Vague Terms: Contracting when Precision in Terms is Infeasible
    Journal of Institutional and Theoretical Economics (JITE), 2008, 164, (1), 76-94 View citations (4)

2007

17. Leadership and Information
    American Economic Review, 2007, 97, (3), 944-947 View citations (54)
18. Leading for the long term
    Journal of Economic Behavior & Organization, 2007, 62, (1), 1-19 View citations (33)
19. The economics of product-line restrictions with an application to the network neutrality debate
    Information Economics and Policy, 2007, 19, (2), 215-248 View citations (99)
    See also Working Paper The Economics of Product-Line Restrictions With an Application to the Network Neutrality Debate, Competition Policy Center, Working Paper Series (2006) (2006)

2006

20. Privacy, property rights and efficiency: The economics of privacy as secrecy
    Quantitative Marketing and Economics (QME), 2006, 4, (3), 209-239 View citations (80)
21. Your network or mine? The economics of routing rules
    RAND Journal of Economics, 2006, 37, (3), 692-719 View citations (11)

2005

22. Trends in Corporate Governance
    Journal of Finance, 2005, 60, (5), 2351-2384 View citations (164)
23. What is Crime?
    Journal of Institutional and Theoretical Economics (JITE), 2005, 161, (2), 303-318 View citations (1)

2004

24. Governance, performance objectives and organizational form: evidence from hospitals
    Journal of Corporate Finance, 2004, 10, (4), 527-548 View citations (46)
25. Sender or Receiver: Who Should Pay to Exchange an Electronic Message?
    RAND Journal of Economics, 2004, 35, (3), 423-447 View citations (56)

2003

26. Boards of directors as an endogenously determined institution: a survey of the economic literature
    Economic Policy Review, 2003, 9, (Apr), 7-26 View citations (854)
    See also Working Paper Boards of Directors as an Endogenously Determined Institution: A Survey of the Economic Literature, NBER Working Papers (2001) View citations (139) (2001)

2002

27. Adverse Selection, Short-Term Contracting, and the Underprovision of On-the-Job Training
    The B.E. Journal of Economic Analysis & Policy, 2002, 1, (1), 21 View citations (10)
    See also Working Paper Adverse Selection, Short-Term Contracting, and the Underprovision of On-the-Job Training, Department of Economics, Working Paper Series (1990) View citations (4) (1990)

2001

28. Firm performance and executive compensation in the savings and loan industry
    Journal of Financial Economics, 2001, 61, (1), 139-170 View citations (27)
    See also Working Paper Firm Performance and Executive Compensation in the Savings and Loan Industry, Finance (1997) View citations (2) (1997)
29. Implementing the First Best in an Agency Relationship with Renegotiation: A Corrigendum
    Econometrica, 2001, 69, (5), 1391-95 View citations (1)
    See also Working Paper Implementing the First Best in an Agency Relationship with Renegotiation: A Corregendum, Berkeley Olin Program in Law & Economics, Working Paper Series (2001) View citations (1) (2001)

2000

30. Contract Renegotiation and Options in Agency Problems
    The Journal of Law, Economics, and Organization, 2000, 16, (2), 395-423 View citations (67)

1999

31. The Firm as a Noneconomy: Some Comments on Holmstrom
    The Journal of Law, Economics, and Organization, 1999, 15, (1), 103-06 View citations (3)

1998

32. Endogenously Chosen Boards of Directors and Their Monitoring of the CEO
    American Economic Review, 1998, 88, (1), 96-118 View citations (849)
    See also Working Paper Endogenously Chosen Boards of Directors and Their Monitoring of the CEO, Working Papers (1996) View citations (21) (1996)
33. Toward an Economic Theory of Leadership: Leading by Example
    American Economic Review, 1998, 88, (5), 1188-1206 View citations (302)
    See also Working Paper Toward an Economic Theory of Leadership: Leading by Example, Microeconomics (1997) View citations (4) (1997)

1996

34. Buyouts in Large Companies
    The Journal of Legal Studies, 1996, 25, (2), 351-70 View citations (6)
    See also Working Paper Buyouts in Large Companies, Yale School of Management Working Papers (1998) View citations (1) (1998)

1995

35. An Economic Analysis of Takings
    The Journal of Law, Economics, and Organization, 1995, 11, (1), 64-86 View citations (43)

1994

36. A Comparison of Nonparametric Methods to Measure Efficiency in the Savings and Loan Industry
    Real Estate Economics, 1994, 22, (1), 169-193 View citations (8)
37. Heterogeneity in Organizational Form: Why Otherwise Identical Firms Choose Different Incentives for Their Managers
    RAND Journal of Economics, 1994, 25, (4), 518-537 View citations (55)
    See also Working Paper Heterogeneity in Organizational Form: Why Otherwise Identical Firms Choose Different Incentives for Their Managers, Economics Working Papers (1992) View citations (7) (1992)
38. The Determinants of Efficiency and Solvency in Savings and Loans
    RAND Journal of Economics, 1994, 25, (3), 361-381 View citations (44)
    See also Working Paper The Determinants of Efficiency and Solvency in Savings and Loans, Department of Economics, Working Paper Series (1992) (1992)

1993

39. Judicial Modification of Contracts between Sophisticated Parties: A More Complete View of Incomplete Contracts and Their Breach
    The Journal of Law, Economics, and Organization, 1993, 9, (2), 230-55 View citations (77)
40. Managerial Preferences Concerning Risky Projects
    The Journal of Law, Economics, and Organization, 1993, 9, (1), 127-35 View citations (29)
    See also Working Paper Managerial Preferences Concerning Risky Projects, Economics Working Papers (1991) (1991)
41. The Use of an Agent in a Signalling Model
    Journal of Economic Theory, 1993, 60, (1), 83-113 View citations (12)
    See also Working Paper The Use of an Agent in a Signaling Model, Department of Economics, Working Paper Series (1991) (1991)

1992

42. The Effects of Competition on Executive Behavior
    RAND Journal of Economics, 1992, 23, (3), 350-365 View citations (135)
    See also Working Paper The Effects of Competition on Executive Behavior, Department of Economics, Working Paper Series (1991) (1991)

1991

43. Moral Hazard and Verifiability: The Effects of Renegotiation in Agency
    Econometrica, 1991, 59, (6), 1735-53 View citations (101)
    See also Working Paper Moral Hazard and Verifiability: The Effects of Renegotiation in Agency, Economics Working Papers (1990) View citations (7) (1990)
44. The Effects of Board Composition and Direct Incentives on Firm Performance
    Financial Management, 1991, 20, (4) View citations (550)
    See also Working Paper The Effects of Board Composition and Direct Incentives on Firm Performance, Working Papers (1991) View citations (530) (1991)
45. The negative effects of lender liability
    FRBSF Economic Letter, 1991, (sep20)

1990

46. Legal Restrictions on Private Contracts Can Enhance Efficiency
    The Journal of Law, Economics, and Organization, 1990, 6, (2), 381-409 View citations (112)
    See also Working Paper Legal Restrictions on Private Contracts Can Enhance Efficiency, DELTA Working Papers (1990) (1990)

1988

47. The Determinants of Board Composition
    RAND Journal of Economics, 1988, 19, (4), 589-606 View citations (357)

Chapters

2024

1. Panel Discussion: The Finances of a Public Flagship University
   A chapter in Financing Institutions of Higher Education, 2024

2018

2. Biased Monitors: Corporate Governance When Managerial Ability is Mis-assessed
   A chapter in Corporate Governance (NBER-TCER-CEPR Conference), 2018
   See also Journal Article Biased monitors: Corporate governance when managerial ability is mis-assessed, Elsevier (2018) (2018)
   Working Paper Biased Monitors: Corporate Governance When Managerial Ability is Mis-assessed, National Bureau of Economic Research, Inc (2017) (2017)

2012

3. Corporate Governance
   A chapter in The Handbook of Organizational Economics, 2012
4. Leadership and Corporate Culture
   A chapter in The Handbook of Organizational Economics, 2012 View citations (26)

2007

5. Contract Law
   Elsevier View citations (6)

1999

6. Risks to Lenders and Borrowers in International Capital Markets
   A chapter in International Capital Flows, 1999, pp 363-420 View citations (20)
   See also Working Paper Risks to Lenders and Borrowers in International Capital Markets, National Bureau of Economic Research, Inc (1999) View citations (20) (1999)