If managers are risk-averse and compensation schemes are not directly linked to shareholder wealth, incentives to … then show how serial correlation in shocks, the relative variance of shocks and the ability of managers to influence the … asymmetric incentives in these two variables. Thus, if managers are risk-averse, their incentives to reduce the impact of …

We analyze competition through incentive contracts for managers in duopoly. Privately informed managers exert surplus … managerial compensations between efficient and inefficient managers. In the second case, as with large contractual spillovers …

empirical investigation of the risk taking behavior of mutual fund managers indicates that managerial risk taking crucially …, fund managers with a poor midyear performance tend to decrease risk relative to leading managers to prevent potential job … loss. When employment risk is low, compensation incentives become more relevant and fund managers with a poor midyear …