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This paper provides a brief review of the state of knowledge in the field of agency theory. The managerial power approach assumes that a chief executive officer is able to affect the scale of his or her pay. However, Kaplan (2012) and others see a different picture of the corporate-governance...
Persistent link: https://www.econbiz.de/10011549610
governance policies, such as managerial pay, and curbing competition. We study a model where managers can exert unobservable cost …-cutting effort and investigate the consequences of and the incentives for coordinating managerial pay among corporate boards. …
Persistent link: https://www.econbiz.de/10011734901
financial performance based on corporate awards in SOEs are both stronger than in non-SOEs. Moreover, when managers cannot fully … obtain other forms of incentives (such as perk consumption or equity incentives), the effect of corporate awards on managers …
Persistent link: https://www.econbiz.de/10012654037
Understanding CEO compensation plans is a continuing challenge for directors and investors. The disclosure of these plans is dictated by SEC rules that rely heavily on the “fair value” of awards at the time they are granted. The problem with these numbers is that they are static and do not...
Persistent link: https://www.econbiz.de/10011870307
Persistent link: https://www.econbiz.de/10011784513
Recent years have seen a reemergence of the practice of awarding “mega grants” to CEOs. Mega grants are large, one-time equity awards granted in lieu of or in addition to annual awards with the intended purpose of providing significant incentive to the CEO to achieve long-term targets. The...
Persistent link: https://www.econbiz.de/10014362013
This paper focuses on the effect of relative performance evaluation (RPE) on top managers’ compensation in Chinese … tasks of managers in SOEs. …
Persistent link: https://www.econbiz.de/10011825215
Persistent link: https://www.econbiz.de/10013399707
Persistent link: https://www.econbiz.de/10012416463
We argue gender-diverse boards are associated with distinct preferences that reassure investors about their commitment … to moderate risk and boost long-term corporate survival. Results suggest a strong relation between gender-diverse boards … with gender-diverse boards choosing similar peers. Bond and stock prices increase around female director appointment …
Persistent link: https://www.econbiz.de/10012849311