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CEO Compensation: Evidence from the Field
Edmans, Alex; Gosling, Tom; Jenter, Dirk - 2021
explains why flow pay responds to performance, even though CEOs’ equity holdings already provide substantial consumption …
Persistent link: https://www.econbiz.de/10012599249
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The Long-Term Consequences of Short-Term Incentives
Edmans, Alex - 2020
This paper studies the long-term consequences of actions induced by vesting equity, a measure of short-term concerns. Vesting equity is positively associated with the probability of a firm repurchasing shares, the amount of shares repurchased, and the probability of the firm announcing a merger...
Persistent link: https://www.econbiz.de/10012853747
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Equity Vesting and Investment
Edmans, Alex - 2020
This paper links the CEO's concerns for the current stock price to reductions in real investment. We identify short-term concerns using the amount of stock and options scheduled to vest in a given quarter. A one standard deviation increase in vesting equity is associated with an annualized 0.2%...
Persistent link: https://www.econbiz.de/10012857035
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CEO compensation : evidence from the field
Edmans, Alex; Gosling, Tom; Jenter, Dirk - 2021
explains why flow pay responds to performance, even though CEOs’ equity holdings already provide substantial consumption …
Persistent link: https://www.econbiz.de/10012584217
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CEO Compensation : Evidence from the Field
Edmans, Alex; Gosling, Tom; Jenter, Dirk - 2021
explains why flow pay responds to performance, even though CEOs’ equity holdings already provide substantial consumption …
Persistent link: https://www.econbiz.de/10013220138
Cover Image
CEO Compensation : Evidence From the Field
Edmans, Alex; Gosling, Tom; Jenter, Dirk - 2021
explains why flow pay responds to performance, even though CEOs’ equity holdings already provide substantial consumption …
Persistent link: https://www.econbiz.de/10013220645
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The Long-Term Consequences of Short-Term Incentives
Edmans, Alex; Fang, Vivian W.; Huang, Allen - 2022
This paper studies the long-term consequences of actions induced by vesting equity, a measure of short-term incentives. Vesting equity is positively associated with the probability of a firm repurchasing shares, the amount of shares repurchased, and the probability of the firm announcing a...
Persistent link: https://www.econbiz.de/10014235528
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Equity Vesting and Managerial Myopia
Edmans, Alex; Fang, Vivian; Lewellen, Katharina A. - C.E.P.R. Discussion Papers - 2014
This paper links the CEO’s concerns for the current stock price to reductions in real investment. These concerns depend on the amount of equity he intends to sell in the short-term, but actual equity sales are an endogenous decision. We use the amount of stock and options scheduled to vest in...
Persistent link: https://www.econbiz.de/10011084396
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Does Improved Information Improve Incentives?
Chaigneau, Pierre - 2017
This paper studies the value of more precise signals on agent performance in an optimal contracting model with …
Persistent link: https://www.econbiz.de/10012974375
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When Is (Performance-Sensitive) Debt Optimal?
Chaigneau, Pierre; Edmans, Alex; Gottlieb, Daniel - 2021
Existing theories of debt consider a single contractible performance measure ("output"). In reality, many other … performance signals are also available. It may seem that debt is no longer optimal; for example, if the signals are sufficiently … value should depend on other signals, providing a theory of performance-sensitive debt …
Persistent link: https://www.econbiz.de/10013215609