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Optimal CEO compensation and stock options

Jarque, Arantxa - Instituto Valenciano de Investigaciones Económicas (IVIE) - 2008

We study the incentive problem between the owners of a firm and its CEO's due to the unobservability of the manager's actions. Our model departs from the literature in two ways. First, we acknowledge that, in contrast with standard repeated moral hazard models, actions taken by CEO's have a...

Persistent link: https://www.econbiz.de/10005212516

On the informativeness of persistence for mutual funds' performance evaluation using partial frontiers

Domínguez, Amparo Soler; Sáez, Juan Carlos Matallín; … - Instituto Valenciano de Investigaciones Económicas (IVIE) - 2011

these methods with the literature on mutual fund performance persistence. By combining the two literatures we derive an … performance persistence. Los últimos años han sido testigos de una rápida evolución de la literatura que evalúa el rendimiento de …

Persistent link: https://www.econbiz.de/10009294285

Conditional means of time series processes and time series processes for conditional means

Fiorentini, Gabriele; Iváñez, Enrique Sentana - Instituto Valenciano de Investigaciones Económicas (IVIE) - 1997

coefficient. We also compare the persistence of shocks to the conditional mean relative to the observed variable using mea sures … of total and iterim persistence of shocks for stationary processes based on the impulse response function. We apply our …

Persistent link: https://www.econbiz.de/10008542870