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Compensation and Competition for Talent : Talent Scarcity or Incentives?
Giannetti, Mariassunta - 2014
We show that long-term compensation is associated with higher pay in the financial industry and the legal sector. Then, using a detailed survey of law school graduates, we explore why firms use long-term compensation. We find that individuals with jobs that make them highly visible and that...
Persistent link: https://www.econbiz.de/10013064773
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Compensation Gaps Among Top Executives : Evidence of Tournament Incentives or Productivity Differentials?
Masulis, Ronald W. - 2017
ability of two competing optimal contracting theories, namely tournament theory and productivity theory, to explain the cross … policies in a manner consistent with tournament theory. Our strongest evidence against tournament theory is from firms most …
Persistent link: https://www.econbiz.de/10012974274
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Incentive schemes, private information and the double-edged role of competition for agents
Bannier, Christina E.; Feess, Eberhard; Packham, Natalie - 2014
This paper examines the effect of imperfect labor market competition on the efficiency of compensation schemes in a setting with moral hazard, private information and risk-averse agents. Two vertically differentiated firms compete for agents by offering contracts with fixed and variable...
Persistent link: https://www.econbiz.de/10010411960
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Incentive schemes, private information and the double-edged role of competition for agents
Bannier, Christina E.; Feess, Eberhard; Packham, Natalie; … - 2016
This paper examines the effect of imperfect labor market competition on the efficiency of compensation schemes in a setting with moral hazard and risk-averse agents, who have private information on their productivity. Two vertically differentiated firms compete for agents by offering contracts...
Persistent link: https://www.econbiz.de/10011498942
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Relative Performance Provisions and Competitive Incentives
Schmalz, Martin C. - 2018
After decades of theoretical inquiry, a burgeoning empirical literature now debates how ownership patterns, governance choices, and executive compensation structure affect firms' competitive behavior. An often-made assumption in the debate is that relative performance evaluation (RPE) of top...
Persistent link: https://www.econbiz.de/10012910910
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Market competition and executive pay : increased competition affects the pay incentives firms provide to their managers and may also affect overall pay structures
Ferreira, Priscila - 2015
Deregulation and managerial compensation are two important topics on the political and academic agenda. The former has been a significant policy recommendation in light of the negative effects associated with overly restrictive regulation on markets and the economy. The latter relates to the...
Persistent link: https://www.econbiz.de/10011427661
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Pulling together by paying together : the effect of product market competition on TMT incentive dispersion
Anutchanat Jaroenjitrkam; Mihaylov, George; Yu, Chia-Feng; … - In: Journal of business research : JBR 165 (2023), pp. 1-12
Persistent link: https://www.econbiz.de/10014331903
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From public monopsony to competitive market : more efficiency but higher prices
Delfgaauw, Josse; Dur, Robert A. J. - 2003
findings, our model implies that firms in the competitive market provide stronger monetary incentives to workers, reach higher …
Persistent link: https://www.econbiz.de/10011404420
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Contract Competition between Hierarchies, Managerial Compensation and Imperfectly Correlated Shocks
Cella, Michela - 2016
We analyze competition through incentive contracts for managers in duopoly. Privately informed managers exert surplus enhancing effort that generates an externality on the rival. Asymmetric information on imperfectly correlated shocks creates a two-way distortion of efforts under strategic...
Persistent link: https://www.econbiz.de/10012999482
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The Real Effects of Tournament Incentives : The Case of Firm Innovation
Jia, Ning - 2020
This paper examines the effects of promotion-based tournament incentives for non-CEO executives on corporate innovation …. We find that firms with greater tournament incentives, which are measured as the pay gap between the CEO and other … tournament incentives. The attraction of talent and the reduction in excessive board interventions appear two plausible …
Persistent link: https://www.econbiz.de/10012855711