’s performance would prefer to keep good juniors in their own unit, and the prospect of losing good people weakens the incentives to …

level and incentives of top earners. The model introduces a simple principal-agent problem into a heterogeneous firm talent …

Promotions serve two purposes. They ought to provide incentives for employees and to select the best employee for a … benefit as a manager has the strongest incentives to work hard to get promoted. This article shows how the interplay of …

incentives, longer terms, managerial bonds, and were in more competitive industries. Selecting managers through bidding was not …

incentives, longer terms, managerial bonds, and were in more competitive industries. Selecting managers through bidding was not …

The primary role of equity compensation is to provide incentives to an effort-averse agent. Here, we show that the … chosen level of equity incentives, when publicly disclosed, will also convey information about future earnings, causing two … pronounced (muted) incentives, in turn leading to greater (lower) future earnings. The model explains observed spurious …

A manager's compensation contract and the level of resources available to him jointly influence his incentives to …