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Frydman, Carola; Jenter, Dirk - 2010

result of powerful managers setting their own pay. Others interpret high pay as the result of optimal contracting in a …

Persistent link: https://www.econbiz.de/10008797772

Do firms gain from managerial overconfidence? : the role of severance pay

Graziano, Clara; Luporini, Annalisa - 2022

We analyze the effects of optimism and overconfidence when the manager's compensation package includes severance pay and the CEO has bargaining power. We find that optimism does not affect incentive pay but increases severance pay with a negative effect on profit. Overconfidence, on the...

Persistent link: https://www.econbiz.de/10013255972

EVA and the controllability-congruence trade-off : an empirical investigation

Ponssard, Jean-Pierre; Larmande, François - 2004

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/10011450490

CEO compensation : evidence from the field

Edmans, Alex; Gosling, Tom; Jenter, Dirk - 2021

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/10012584217

Academics appreciate awards : a new aspect of incentives in research

Frey, Bruno S.; Neckermann, Susanne - 2009

This paper analyzes awards as a means of motivation prevalent in the scientific community, but so far neglected in the economic literature on incentives, and discusses their relationship to monetary compensation. Awards are better suited than performance pay to reward scientific tasks, which are...

Persistent link: https://www.econbiz.de/10003807766

Profit sharing, wage formation and flexible outsourcing under labor market imperfection

Koskela, Erkki; König, Jan - 2010

We combine profit sharing and outsourcing, if the wage for worker is decided by a labor union to analyze how does the implementation of profit sharing affect individual effort and the bargained wage and thus outsourcing? We find that profit sharing and the wage level have an individual...

Persistent link: https://www.econbiz.de/10003936640

Setting incentives : temporary performance premiums versus promotion tournaments

Meier, Volker - 2001

Two alternative relative compensation schemes are compared with respect to total output that can be generated at a given sum of salaries. While the promotion regime guarantees that any salary increase is permanent, the premium system allows a reduction in the income of an agent to the base...

Persistent link: https://www.econbiz.de/10011398044

Paid to quit

Dur, Robert A. J.; Schmittdiel, Heiner - 2015

Inspired by a recent observation about an online retail company, this paper explains why a firm may find it optimal to offer an exit bonus to recent hires so as to induce self-selection. We study a double adverse selection problem, in which the principal can neither observe agents’ commitment...

Persistent link: https://www.econbiz.de/10011405134

Social relations and relational incentives

Dur, Robert A. J.; Tichem, Jan - 2012

This paper studies how social relationships between managers and employees affect relational incentive contracts. To … each other. The contract may contain two types of incentives for the agent to work hard: a bonus and a threat of dismissal … relations ; incentives ; relational contracts ; efficiency wages ; subjective performance evaluation ; Nash bargaining …

Persistent link: https://www.econbiz.de/10009540101

Market competition or family ties : which prevails on Italian CEOs pay?

Graziano, Clara; Rondi, Laura - 2015 - This draft: June 8, 2015

The paper analyzes the interplay of product market competition and governance on CEO compensation in Italian listed firms from 2000 to 2011 and tests the impact of the 2007-08 financial crisis on pay-performance sensitivity. We argue that important differences both in the level of compensation...

Persistent link: https://www.econbiz.de/10011280832

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