Showing 1 - 10 of 12,485
Persistent link: https://www.econbiz.de/10014472113
The paper addresses a basic model of moral hazard (risk) (Gibbons, 2010, Gibbons, 2005) and suggests some of its modifications. In the basic model of moral risk, questions are put and examined that have not been considered in the previous researches. In particular, it is proved that the level of...
Persistent link: https://www.econbiz.de/10013051669
. First, it argues that proper incentives—created by executive compensation, heightened risk of early termination, market …
Persistent link: https://www.econbiz.de/10013233907
Rankings are a pervasive feature of the finance industry. Although they have no direct monetary consequences, rankings provide utility for intrinsic (positive self-image) and extrinsic (status) reasons. We recruit a unique subject pool of 204 financial professionals and investigate how anonymous...
Persistent link: https://www.econbiz.de/10011417442
One of the standard predictions of the agency theory is that more incentives can be given to agents with lower risk … obtain that lower agent’s risk aversion unambiguously leads to higher incentives when the technology function linking …
Persistent link: https://www.econbiz.de/10011848346
"Implicit Contracts, incentive compatibility, and involuntary unemployment" (MacLeod and Malcomson, 1989) remains our most highly cited work. We briefly review the development of this paper and of our subsequent related work, and conclude with reflections on the future of relational contract...
Persistent link: https://www.econbiz.de/10013500553
, contributing to the theoretical understanding of the impact of non-financial incentives on optimal contracting. …
Persistent link: https://www.econbiz.de/10015409523
Persistent link: https://www.econbiz.de/10010530892
Persistent link: https://www.econbiz.de/10011473441
Persistent link: https://www.econbiz.de/10012038267