ELAYAN, FAYEZ A.; LAU, JAMMY S.C.; MEYER, THOMAS O. - In: Studies in Economics and Finance 21 (2003) 1, pp. 54-92
Incentive‐based executive compensation is regarded as a mechanism for alleviating agency problems between executives and shareholders. Seventy‐three New Zealand (NZ) listed companies are used to examine the relationship between executive incentive compensation schemes (ICS) and firm...