We provide evidence that CEO equity incentives, especially stock options, influence stock liquidity risk via …

-performance sensitivity). Our findings are consistent with theoretical predictions that outside owners approve of equity incentives as a means … of aligning managers' interests with those of shareholders. We also document that future changes to equity …-based incentives are related to voting outcomes and that shareholders incorporate CFO incentives into their votes. Collectively, these …

incentives, the level and structure of executive compensation, and firm performance. We operationalize the board's discretion in …. However, it also creates a hold-up problem that undermines CEOs' investment incentives and firm profit. Conversely, the …

set ex ante explicit severance pay agreements as one component in managing the optimal level of equity incentives. Younger … post payouts to managers are largely determined by the ex ante contract terms …

set ex ante explicit severance pay agreements as one component in managing the optimal level of equity incentives. Younger … post payouts to managers are largely determined by the ex ante contract terms …

-merger performance. These results hold controlling for CEO overconfidence and cannot be attributed to firms altering incentives to induce …

We find that managers receive more risk-taking incentives in their compensation packages once their firms are …

This study examines the sophistication of rating agencies in incorporating managerial risk-taking incentives into their … credit risk evaluation. We measure risk-taking incentives using two proxies: the sensitivity of managerial wealth to stock … impound managerial risk-taking incentives in their credit risk assessments. Assuming other things equal, a one standard …