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Target Performance Goals in CEO Compensation Contracts and Management Earnings Guidance

Martin, Xiumin - 2018

We study how compensation committees set CEOs' earnings performance goals in annual incentive plans (AIPs) and their … both financial analysts and managers in setting performance goals. Also, the weight boards place on a manager's earnings … when performance goals are linked to earnings-based measures such as Earnings-Per-Share (EPS), but not when they are linked …

Persistent link: https://www.econbiz.de/10012934487

The Real Effects of Tournament Incentives : The Case of Firm Innovation

Jia, Ning - 2020

This paper examines the effects of promotion-based tournament incentives for non-CEO executives on corporate innovation. We find that firms with greater tournament incentives, which are measured as the pay gap between the CEO and other executives, are associated with a higher level of patent...

Persistent link: https://www.econbiz.de/10012855711

Contracting in a Continuous-Time Model with Three-Sided Moral Hazard and Cost Synergies

Yang, Nian - 2018

We study optimal effort and compensation in a continuous-time model with three-sided moral hazard and cost synergies. One agent exerts initial effort to start the project; the other two agents exert ongoing effort to manage it. The project generates cash flow at a fixed rate over its lifespan;...

Persistent link: https://www.econbiz.de/10012928139