Choi, Seungho; Levine, Ross; Park, Jonghyeon; Xu, Simon - National Bureau of Economic Research - 2024
-taking and executive compensation, few researchers explore this relationship empirically. We construct a firm-year measure of … corporate boards to reduce the risk-taking incentives of CEO compensation. However, this pattern is not uniform. Financially … distressed firms exhibit milder reductions in compensation convexity, with some even increasing it, suggesting a "gambling for …