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Optimal Executive Compensation vs. Managerial Power : A Review of Lucian Bebchuk and Jesse Fried's "Pay Without Performance: The Unfulfilled Promise of Executive Compensation"

Weisbach, Michael S. - 2007

This essay reviews Bebchuk and Fried's quot;Pay without Performance: The Unfulfilled Promise of Executive Compensationquot;. Bebchuk and Fried criticize the standard view of executive compensation, in which executives negotiate contracts with shareholders that provide incentives that motivate...

Persistent link: https://www.econbiz.de/10012778036

Reaching for the Stars : Who Pays for Talent in Innovative Industries?

Haltiwanger, John - 2010

Innovation in the U.S. economy is about employing and rewarding highly talented workers to produce new products. Using unique longitudinal matched employer-employee data, this paper makes a key connection between talent and firms in markets with risky product innovations. We show that software...

Persistent link: https://www.econbiz.de/10012760728

Yesterday's Heroes : Compensation and Creative Risk-Taking

Cheng, Ing-Haw - 2013

We study the relationship between compensation and risk-taking among finance firms using a neglected insight from principal-agent contracting with hidden action and risk-averse agents. If the sensitivity of pay to stock price or slope does not vary with stock price volatility, then total...

Persistent link: https://www.econbiz.de/10013094549

Labor in the Boardroom

Jäger, Simon - 2019

We estimate the wage effects of shared governance, or codetermination, in the form of a mandate of one third of … analogous difference in unaffected firm types (LLCs). We find no effects of board-level codetermination on wages and the wage …. We reject that disinvestment could have offset wage effects through the canonical hold-up channel, as shared governance …

Persistent link: https://www.econbiz.de/10012858402

Analyzing Compensation Methods in Manufacturing : Piece Rates, Time Rates, or Gain-Sharing?

Helper, Susan - 2010

Economists have often argued that "pay for performance" is the optimal compensation scheme. However, use of the simplest form of pay for performance, the piece rate, has been in decline in manufacturing in recent decades. We show both theoretically and empirically that these changes are due to...

Persistent link: https://www.econbiz.de/10013135877

Profit Sharing between Governments and Multinationals in Natural Resource Extraction : Evidence from a Firm-Level Panel

Waxman, Andrew - 2008

The quot;fairnessquot; of negotiations between countries and resource extracting firms is subject to many accusations and counter-accusations and may be argued, in many instances, to impact the subsequent economic benefit to a host country from extraction. This paper examines the role of host...

Persistent link: https://www.econbiz.de/10012773432

Lucky CEOS

Bebchuk, Lucian A. - 2007

We study the relation between corporate governance and opportunistic timing of CEO option grants via backdating or otherwise. Our methodology focuses on how grant date prices rank within the price distribution of the grant month. During 1996-2005, about 12% of firms provided one or more lucky...

Persistent link: https://www.econbiz.de/10012778100

Do Workers Gain by Sharing? Employee Outcomes Under Employee Ownership, Profit Sharing, and Broad-Based Stock Options

Kruse, Douglas L. - 2010

This paper examines how shared capitalism compensation systems - those that link employee pay to company performance - affect diverse employee outcomes. It uses two data sets: the national GSS survey that provides a broad representative view of the extent of the programs; and the NBER Shared...

Persistent link: https://www.econbiz.de/10012758505

Creating a Bigger Pie? the Effects of Employee Ownership, Profit Sharing, and Stock Options on Workplace Performance

Blasi, Joseph - 2010

This paper uses data from NBER surveys of over 40,000 employees in hundreds of facilities in 14 firms and from employees on the 2002 and 2006 General Social Surveys to explore how shared compensation affects turnover, absenteeism, loyalty, worker effort, and other outcomes affecting workplace...

Persistent link: https://www.econbiz.de/10012758506

Lucky Directors

Bebchuk, Lucian A. - 2010

While prior empirical work and much public attention have focused on the opportunistic timing of executives' grants, we provide in this paper evidence that outside directors' option grants have also been favorably timed to an extent that cannot be fully explained by sheer luck. Examining events...

Persistent link: https://www.econbiz.de/10012760477

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