Gillenkirch, Robert M.; Hendriks, Achim; Welker, Susanne A. - In: European Accounting Review 23 (2014) 4, pp. 625-645
This study experimentally investigates whether shareholders correctly anticipate the incentive effects of increasingly complex compensation packages given to managers, and whether potential biases in individual shareholder beliefs carry over to price and volume effects in a stock market. In the...