Agarwal, Vikas; Gómez, Juan-Pedro; Priestley, Richard - Institut für Finanzmarktforschung, Wirtschafts- und … - 2012
This paper shows that portfolio constraints have important implications for management compensation and performance evaluation. In particular, in the presence of portfolio constraints, allowing for benchmarking can be bene
cial. Benchmark design arises as an alternative effort inducement...
