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Insurance and Opportunities : A Welfare Analysis of Labor Market Risk
Heathcote, Jonathan - 2008
Using a model with constant relative risk-aversion preferences, endogenous labor supply and partial insurance against … cost associated with missing insurance markets. On the other hand, greater wage dispersion presents opportunities to raise … second moments of the joint distribution over individual wages, consumption and hours …
Persistent link: https://www.econbiz.de/10012773175
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How important are risk-taking incentives in executive compensation?
Dittmann, Ingolf; Yu, Ko-Chia - 2009
This paper investigates whether observed executive compensation contracts are designed to provide risk-taking incentives in addition to effort incentives. We develop a stylized principal-agent model that captures the interdependence between firm risk and managerial incentives. We calibrate the...
Persistent link: https://www.econbiz.de/10011378949
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Executive Compensation : Six Questions that Need Answering
Abowd, John M. - 2002
the executive. Agency theory remains the only viable candidate for answering the question about how executive compensation … compensation, in the context of agency theory. We suggest two fertile areas for research regarding the improvement of executive …
Persistent link: https://www.econbiz.de/10012787508
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Executive Compensation and Incentives : the Impact of Takeover Legislation
Bertrand, Marianne - 2010
We investigate the impact of changes in states' anti-takeover legislation on executive compensation. We find both pay for performance sensitivities and mean pay increase for the firms affected by the legislation (relative to a control group). These findings are partially consistent with an...
Persistent link: https://www.econbiz.de/10012763822
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The Other Side of the Tradeoff : the Impact of Risk on Executive Compensation
Aggarwal, Rajesh K.; Samwick, Andrew A. - 2021
The principal-agent model of executive compensation is of central importance to the modern theory of the firm and …
Persistent link: https://www.econbiz.de/10013215701
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Agency, Delayed Compensation, and the Structure of Executive Remuneration
Eaton, Jonathan; Rosen, Harvey S. - 2021
this risk. We use our theory to interpret some executive compensation data from the early 1970's. The results are generally …
Persistent link: https://www.econbiz.de/10013247010
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Consumption Insurance Against Wage Risk : Family Labor Supply and Optimal Progressive Income Taxation
Wu, Chunzan; Krueger, Dirk - 2022
of consumption insurance against shocks to male and female wages, as estimated empirically by Blundell, Pistaferri and … consumption, compared to the empirical estimates of 32% and 19%. Most of the consumption insurance against permanent male wage …-household income insurance mechanism strongly biases upward the welfare losses from idiosyncratic wage risk as well as the desired …
Persistent link: https://www.econbiz.de/10013323443
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CEO Compensation
Frydman, Carola - 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/10013135394
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Pay Cuts for the Boss : Executive Compensation in the 1940s
Frydman, Carola - 2011
Executive pay fell during the 1940s, marking the last notable decrease in the past 70 years. We study this decline using a new panel dataset on the remuneration of top executives in 246 firms. We find that government regulation--including explicit salary restrictions and taxation--had, at best,...
Persistent link: https://www.econbiz.de/10013121089
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Executive Compensation : Facts
Clementi, Gian Luca - 2010
In this paper we describe the important features of executive compensation in the US from 1993 to 2006. Some confirm what has been found for earlier periods and some are novel. Important facts about compensation are that: the compensation distribution is highly skewed; each year, a sizeable...
Persistent link: https://www.econbiz.de/10013150549