Detailed data about stock option contracts are used to measure and analyze the pay to performance incentives of … executive stock options. Two main issues are addressed. The first is the pay to performance incentives created by the … pay to performance incentives since changes in current stock prices affect the value of future option grants in different …

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 …

compensation plans on personal productivity. We study an international law firm that moves from high-powered individual incentives … towards incentives for "leadership" activities that contribute to the firm's long run profitability. The effect of this change …

relationships and on how firms provide incentives to employees. This literature has been very successful in generating models and …

of the typical American firm. Variable pay is usually touted as a way to provide incentives to managers whose interests … received much attention, but that is consistent with may of the facts, is selection. Managers and industry specialists may have … information about a firm's prospects that is unavailable to outside investors. In order to induce managers to be truthful about …

of executive incentives. We compare pay in U.S. public firms to private and non-U.S. firms. We then critically analyze …

times as large as direct incentives from incentive fees and returns to managers' own investment in the fund. For new funds …Indirect incentives exist in the money management industry when good current performance increases future inflows of … new capital, leading to higher future fees. We quantify the magnitude of indirect performance incentives for hedge fund …

Empirical research on executive compensation has focused almost exclusively on the incentives provided to chief … executive officers. However, firms are run by teams of managers, and a theory of the firm should also explain the distribution … of incentives and responsibilities for other members of the top management team. An extension of the standard principal …

The paper studies how a person's concern for a future career may influence his or her incentives to put in effort or …