Showing 1 - 10 of 1,782
This paper analyzes the linkages among group incentive methods of compensation, labor practices, worker assessments of workplace culture, turnover, and firm performance in a non-representative sample of companies: firms that applied to the "100 Best Companies to Work For in America" competition...
Persistent link: https://www.econbiz.de/10013037335
Using a unique 10-year panel that includes more than 13,300 expected stock market return probability distributions, we find that executives are severely miscalibrated, producing distributions that are too narrow: realized market returns are within the executives' 80% confidence intervals only...
Persistent link: https://www.econbiz.de/10012773122
A common view of CEO compensation is that there is essentially no correlation between firm performance and CEO pay. This calls into question an important component of effective corporate governance. This zero correlation' belief is based on the widely cited result that CEO wealth rises by only...
Persistent link: https://www.econbiz.de/10013310217
We consider a setting in which insiders have information about income that outside shareholders do not, but property rights ensure that outside shareholders can enforce a fair payout. To avoid intervention, insiders report income consistent with outsiders' expectations based on publicly...
Persistent link: https://www.econbiz.de/10013117203
We derive a measure that captures the extent to which overlapping ownership structures shift managers' incentives to … possibility that the growth of common ownership has had a significant impact on managerial incentives.Institutional subscribers to …
Persistent link: https://www.econbiz.de/10012890898
We investigate whether bank performance during the credit crisis of 2008 is related to CEO incentives and share … no evidence that banks with CEOs whose incentives were better aligned with the interests of their shareholders performed …
Persistent link: https://www.econbiz.de/10013151644
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/10013156534
We study the relation between compensation practices, incentives, and performance in private equity using new data that … performance incentives, we find no evidence that higher compensation or lower managerial ownership are associated with worse net … productivity of manager skills, and in which managers with higher compensation earn back their pay by delivering higher gross …
Persistent link: https://www.econbiz.de/10013066311
The paper studies how a person's concern for a future career may influence his or her incentives to put in effort or …
Persistent link: https://www.econbiz.de/10013324064
What determines CEO incentives? A confusion exists among both academics and practitioners about how to measure the … strength of CEO incentives, and how to reconcile the enormous differences in pay sensitivities between executives in large and … small firms. We show that while one measure of CEO incentives (the dollar change in CEO wealth per dollar change in firm …
Persistent link: https://www.econbiz.de/10013234372