Showing 1 - 10 of 2,833
Risk-neutral individuals take more risky decisions when they have limited liability. Risk-neutral managers may not when …
Persistent link: https://www.econbiz.de/10010275809
We study the market for CEOs of large publicly-traded US firms, analyze new CEOs’ prior connections to the hiring firm, and explore how hiring choices are determined. Firms are hiring from a surprisingly small pool of candidates. More than 80% of new CEOs are insiders, defined as current or...
Persistent link: https://www.econbiz.de/10013222199
We survey directors and investors on the objectives, constraints, and determinants of CEO pay. 67% of directors would sacrifice shareholder value to avoid controversy on CEO pay, implying they face significant constraints other than participation and incentive compatibility. These constraints...
Persistent link: https://www.econbiz.de/10013220138
In this paper we present results from a large scale real effort experiment in an online labor market investigating the effect of performance pay and two common leadership techniques: Positive expectations and specific goals. We find that positive expectations have a significant negative effect...
Persistent link: https://www.econbiz.de/10012891569
This paper asks whether adversity spurs the introduction of process innovations and increases the use of managerial incentives by firms. Using a large panel data set of workplaces in Canada, our identification strategy relies on exogenous variation in adversity arising from increased border...
Persistent link: https://www.econbiz.de/10010273810
Gender differences in overconfidence have been extensively documented in the empirical literature, but the implications for labor market outcomes are not well understood. In this paper, we analyze how men’s relatively higher overconfidence, combined with competitive job incentives, affects...
Persistent link: https://www.econbiz.de/10014358407
We analyze the effects of optimism and overconfidence when the manager’s compensation package includes severance pay …
Persistent link: https://www.econbiz.de/10014082159
This paper examines the integration of ESG performance metrics into executive compensation using a detailed panel dataset of European executives. Despite becoming more widespread, most ESG metrics are largely discretionary, carry immaterial weights in payout calculations, and contribute little...
Persistent link: https://www.econbiz.de/10015165449
Incentives theory suggests that compensation schemes should be analyzed along two dimensions: controllability and … qualitative feedback from the managers involved, are analyzed. It is argued that EVA bonus schemes may have a major …
Persistent link: https://www.econbiz.de/10010261243
with the evolution in executive pay and the market for managers during earlier time periods. A case study of General …
Persistent link: https://www.econbiz.de/10010264485