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Performance Incentives Within Firms : The Effect of Managerial Responsibility

Aggarwal, Rajesh K. - 1999

executive officers. However, firms are run by teams of managers, and a theory of the firm should also explain the distribution …

Persistent link: https://www.econbiz.de/10012471450

The Other Side of the Tradeoff : The Impact of Risk on Executive Compensation

Aggarwal, Rajesh - 1998

The principal-agent model of executive compensation is of central importance to the modern theory of the firm and …

Persistent link: https://www.econbiz.de/10012472176

Empire-Builders and Shirkers : Investment, Firm Performance, and Managerial Incentives

Aggarwal, Rajesh K. - 1999

shareholders and managers in which managers have private benefits or private costs of investment. Managers overinvest when they …, in isolation, is insufficient to identify whether managers have private benefits or private costs of investment. In order … to identify whether managers have private benefits or costs, we estimate the joint relationships between incentives and …

Persistent link: https://www.econbiz.de/10012471449

Discount Rate Heterogeneity and Social Security Reform

Samwick, Andrew A. - 1997

As many countries consider the privatization of existing pay-as-you-go Social Security systems, the option to make participation in the new system voluntary may appeal to policy makers who need to obtain the political support of their workers. A critical issue in evaluating such a reform and its...

Persistent link: https://www.econbiz.de/10012472592

How Important is Precautionary Saving?

Carroll, Christopher D. - 1995

We estimate the fraction of the wealth of a sample of PSID respondents that is held because some households face greater income uncertainty than others. We first derive an equation characterizing the theoretical relationship between wealth and uncertainty in a buffer-stock model of saving. Next,...

Persistent link: https://www.econbiz.de/10012473685