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Purpose – The purpose of this paper is to solve the optimal managerial compensation problem when shareholders are either naïvely optimistic or rational. Design/methodology/approach –The paper uses applied game theory to derive the optimal CEO compensation package with over optimistic...
Persistent link: https://www.econbiz.de/10010778783
Purpose – The purpose of this paper is to solve the optimal managerial compensation problem when shareholders are either naïvely optimistic or rational. Design/methodology/approach – The paper uses applied game theory to derive the optimal CEO compensation package with over optimistic...
Persistent link: https://www.econbiz.de/10014785460