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Reining in Excessive Risk Taking by Executives : Experimental Evidence

Lefebvre, Mathieu; Vieider, Ferdinand - HAL - 2010

Compensation of executives by means of equity has long been seen as a means to tie executives' income to company performance, and thus as a solution to the principal-agent dilemma created by the separation of ownership and management in publicly owned companies. The overwhelming part of such...

Persistent link: https://www.econbiz.de/10008790773

Redesigning Teams and Incentives:A Real Effort Experiment with Managers of a Merged Company

Montmarquette, Claude; Rullière, Jean-Louis; Villeval, … - HAL - 2002

managers originating from different incentives and working habits. In this paper, we offer a new way to investigate in post … managers within a large pharmaceutical company show that not only changes in compensation incentives affect performance but … occurring both in compensation incentives and in team composition. The results of a real effort experiment conducted with …

Persistent link: https://www.econbiz.de/10008788808

The Possibility of a Welfare Policy in a World of Emotion-Driven Individuals: A Humean Point of View

Lapidus, André - HAL - 2011

Based on Hume's major philosophical works and on some of his Essays, this paper discusses formally the feasibility, from a Humean point of view, of a welfare policy which would aim at promoting the highest individual happiness whereas individual decisions, like individual happiness, are...

Persistent link: https://www.econbiz.de/10009226838

The hero figure in Business and Cinema

Fournout, Olivier - HAL - 2012

Textbooks and manuals on management suggest that managers are heroes who deal with difficult problems of collective …

Persistent link: https://www.econbiz.de/10010550433

Optimal Preventive Bank Supervision: Combining Random Audits and Continuous Intervention

Belhaj, Mohamed; Klimenko, Nataliya - HAL - 2012

Early regulator interventions into problem banks is one of the key suggestions of Basel II. However, no guidance is given on their design. To fill this gap, we outline an incentive-based preventive supervision strategy that eliminates bad asset management in banks. Two supervision techniques are...

Persistent link: https://www.econbiz.de/10010933829

Piecework versus merit pay: a Mean Fi eld Game approach to academic behavior

Besancenot, Damien; Courtault, Jean-Michel; Dika, Khaled El - HAL - 2011

This paper applies the Mean Fi eld Game approach pioneered by Lasry and Lions (2007) to the analysis of the researchers' academic productivity. It provides a theoretical motivation for the stability of the universaly observed Lotka's law. It shows that a remuneration scheme taking into account...

Persistent link: https://www.econbiz.de/10010929096

IPPP - Risks and opportunities An economic perspective

Brux, Julie De; Marty, Frédéric - HAL - 2014

This article analyzes some of the issues raised by institutionalized public-private partnerships in an economic perspective. We demonstrate that although they may address some of the main limits of purely contractual public-private partnerships, such as the issues of control, know-how transfer,...

Persistent link: https://www.econbiz.de/10010930091

Incentives from stock option grants: a behavioral approach

Bahaji, Hamza - HAL - 2011

This paper examines the incentives from stock options for loss-averse employees subject to probability weighting …, the model predicts that incentives are maximized for strike prices set around the stock price at inception. This finding … accommodating their existence. The paper also examines the relationship between risk taking incentives and stock options and finds …

Persistent link: https://www.econbiz.de/10010538937

EMPLOYEE STOCK OPTIONS INCENTIVE EFFECTS: A CPT-BASED MODEL

Bahaji, Hamza - HAL - 2011

Persistent link: https://www.econbiz.de/10010538938

Incentives from stock option grants: a behavioral approach

Bahaji, Hamza - HAL - 2011

This paper examines the incentives from stock options for loss-averse employees subject to probability weighting … incentives are maximized for strike prices set around the stock price at inception. This finding is consistent with companies … examines the relationship between risk taking incentives and stock options and finds that an executive who is subject to …

Persistent link: https://www.econbiz.de/10010539641