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Executive Compensation : A Survey of Theory and Evidence
Edmans, Alex - 2017
This paper reviews the theoretical and empirical literature on executive compensation. We start by presenting data on the level of CEO and other top executive pay over time and across firms, the changing composition of pay; and the strength of executive incentives. We compare pay in U.S. public...
Persistent link: https://www.econbiz.de/10012455086
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CEO Pay and the rise of Relative Performance Contracts : A Question of Governance?
Bell, Brian - 2016
responds more to increases in shareholders' return performance than to decreases. Further, this asymmetry is stronger when …
Persistent link: https://www.econbiz.de/10012456270
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CEO Compensation and Adverse Shocks : Evidence from Changes in Environmental Regulations
Choi, Seungho; Levine, Ross; Park, Jonghyeon; Xu, Simon - National Bureau of Economic Research - 2024
resurrection" strategy. Moreover, the strength of corporate governance influences shareholders' capacity to align executive …
Persistent link: https://www.econbiz.de/10014635626
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Dynamic incentive accounts
Edmans, Alex; Gabaix, Xavier; Sadzik, Tomasz; Sannikov, … - 2009
Persistent link: https://www.econbiz.de/10003902824
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The impact of competition on management quality : evidence from public hospitals
Bloom, Nicholas; Propper, Carol; Seiler, Stephan; Van … - 2010
Persistent link: https://www.econbiz.de/10003994168
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The impact of competition on management quality : evidence from public hospitals
Bloom, Nicholas; Propper, Carol; Seiler, Stephan; Van … - 2010
Persistent link: https://www.econbiz.de/10003994673
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The dynamics in inequality
Gabaix, Xavier; Lasry, Jean-Michel; Lions, Pierre-Louis; … - 2015
Persistent link: https://www.econbiz.de/10011442913
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The Impact of Competition on Management Quality : Evidence from Public Hospitals
Bloom, Nicholas - 2010
In this paper we examine the causal impact of competition on management quality. We analyze the hospital sector where … management quality - measured using a new survey tool - is strongly correlated with financial and clinical outcomes such as … a greater number of neighboring hospitals) is positively correlated with increased management quality, and this …
Persistent link: https://www.econbiz.de/10012462620
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Tractability in Incentive Contracting
Edmans, Alex - 2009
This paper identifies a class of multiperiod agency problems in which the optimal contract is tractable (attainable in closed form). By modeling the noise before the action in each period, we force the contract to provide sufficient incentives state-by-state, rather than merely on average. This...
Persistent link: https://www.econbiz.de/10012463104
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Dynamic Incentive Accounts
Edmans, Alex - 2009
Contracts in a dynamic model must address a number of issues absent from static frameworks. Shocks to firm value may weaken the incentive effects of securities (e.g. cause options to fall out of the money), and the impact of some CEO actions may not be felt until far in the future. We derive the...
Persistent link: https://www.econbiz.de/10012463326