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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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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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Optimal Exercise Prices for Executive Stock Options
Hall, Brian J. - 2000
Although exercise prices for executive stock options can be set either below or above the grant-date market price, in practice virtually all options are granted at the money. We offer an economic rationale for this apparent puzzle, by showing that pay-to-performance incentives for risk-averse...
Persistent link: https://www.econbiz.de/10012471227
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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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The Trouble with Stock Options
Hall, Brian J. - 2003
that we believe explains the over-use of options and several apparent puzzles: boards and managers falsely perceive stock …
Persistent link: https://www.econbiz.de/10012468914
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Stock Options for Undiversified Executives
Hall, Brian J. - 2000
We employ a certainty-equivalence framework to analyze the cost and value of, and pay/performance incentives provided by, non-tradable options held by undiversified, risk-averse executives. We derive Executive Value' lines, the risk-adjusted analogues to Black-Scholes lines, and distinguish...
Persistent link: https://www.econbiz.de/10012470680
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Does Executive Compensation Affect Investment?
Murphy, Kevin J. - 1992
Investment decisions require trading off current expenditures against future revenues. If revenues extend far enough into the future, the executives responsible for designing long-run investment policy may no longer be in office by the time all the revenues are realized. We present evidence...
Persistent link: https://www.econbiz.de/10012474835