throughout the economy and include contracts linking CEO pay directly to firm performance, annual bonus schemes, the posting of … performance bonds, and holding company stock. These incentive mechanisms appear to complement rather than substitute for one … another. The elasticity of pay with respect to company performance is one or more in two-fifths of the cases where CEO's have …

literature on the prevalence and correlates of performance bonds posted by corporate executives. We show that they are an … important feature in today's CEO labour market in China: around one-tenth of corporations deploy performance bonds and they are …