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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
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Credit Default Swaps, Agency Problems, and Management Incentives
Lee, Jongsub - 2017
: reducing the opportunity for managers to transfer value to equityholders from creditors via strategic default, and reducing the …
Persistent link: https://www.econbiz.de/10012453649
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Corporate Tax Avoidance and High Powered Incentives
Desai, Mihir A. - 2004
This paper analyzes the links between corporate tax avoidance, the growth of high-powered incentives for managers, and …
Persistent link: https://www.econbiz.de/10012468222
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Indirect Incentives of Hedge Fund Managers
Lim, Jongha - 2013
managers. Flows respond quickly and strongly to performance; lagged performance has a monotonically decreasing impact on flows … times as large as direct incentives from incentive fees and returns to managers' own investment in the fund. For new funds … generated for their investors in a given year, managers receive close to another dollar in direct performance fees plus the …
Persistent link: https://www.econbiz.de/10012459758
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Automobile Prices in Market Equilibrium : Part I and II
Berry, Steven - 1993
This paper develops new techniques for empirically analyzing demand and supply in differentiated products markets and then applies these techniques to analyze equilibrium in the U.S. automobile industry. Our primary goal is to present a framework which enables one to obtain estimates of demand...
Persistent link: https://www.econbiz.de/10012474698
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The Tenuous Tradeoff Between Risk and Incentives
Prendergast, Canice - 2000
Empirical work testing for a negative tradeoff between risk and incentives, a cornerstone of agency theory, has not had …
Persistent link: https://www.econbiz.de/10012470935
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Risk and the CEO Market : Why Do Some Large Firms Hire Highly-Paid, Low-Talent CEOs?
Edmans, Alex - 2010
This paper presents a market equilibrium model of CEO assignment, pay and incentives under risk aversion and heterogeneous moral hazard. Each of the three outcomes can be summarized by a single closed-form equation. In assignment models without moral hazard, allocation depends only on firm size...
Persistent link: https://www.econbiz.de/10012462666
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Incentives in HMOs
Gaynor, Martin - 2001
We study the effect of physician incentives in an HMO network. Physician incentives are controversial because they may induce doctors to make treatment decisions that differ from those they would chose in the absence of incentives. We set out a theoretical framework for assessing the degree to...
Persistent link: https://www.econbiz.de/10012470196
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Opportunity Counts : Teams and the Effectiveness of Production Incentives
Boning, Brent - 2001
This paper investigates the individual and joint effects of group incentive pay and problem-solving teams on productivity. To estimate models of adoption of these work practices and models of the effects of the work practices on productivity, we constructed a data set on the operations of 34...
Persistent link: https://www.econbiz.de/10012470418
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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