Morse, Adair; Nanda, Vikram; Seru, Amit - In: Critical Finance Review 3 (2014) 1, pp. 153-190
Wan (2013) argues that the statistical inferences in our Journal of Finance (2011) paper are not robust, as we do not prove that it is powerful CEOs that rig incentive contracts. Wan makes the theoretical claim that the rigging results are consistent with ex-post optimal re-contracting. However,...
