Showing 1 - 10 of 14,852
Ordinary least squares (OLS) estimates are frequently used to measure the effects of managerial incentives on corporate innovation. However, these estimates suffer from two data problems. First, corporate innovation data have a discrete spike at zero because many firms never engage in corporate...
Persistent link: https://www.econbiz.de/10012927101
This paper examines how the tournament-like progression in the CEO labor market influences corporate innovation strategies. By exploiting a text-based proxy for product innovation based on product descriptions from 10-Ks, we find a significant positive relation between industry tournament...
Persistent link: https://www.econbiz.de/10012850347
This paper investigates the effect of superstar CEOs on their competitors. Exploiting shocks to CEO status due to prestigious media awards, we document a significant positive stock market performance of competitors of superstar CEOs subsequent to the award. The effect is more pronounced for...
Persistent link: https://www.econbiz.de/10011344197
executives, are associated with a higher level of patent quantity and quality, innovation efficiency, and patent importance and …
Persistent link: https://www.econbiz.de/10012855711
tournament incentives are positively related to innovative efficiency, as measured by the number of patents and patent citations … positive relation between tournament incentives and innovative efficiency is found to be particularly pronounced during the … period prior to CEO turnovers, especially when the succeeding CEO is promoted from within the firm and when senior managers …
Persistent link: https://www.econbiz.de/10013007441
Our paper examines the relationship between industry tournament incentives for CEOs and corporate innovation. We find that the external pay gap is positively associated with subsequent innovation output and its economic value. Our results are robust to using different industry classifications,...
Persistent link: https://www.econbiz.de/10013224134
compensation mechanism that firms use to motivate managers to innovate during crises, as an important driver that improves firm … able to innovate by compensating managers with options. We identify exogenous variation in option compensation using …
Persistent link: https://www.econbiz.de/10013243305
A common decision that organizations make is to prioritize and allocate resources to managers of competing new product … projects. On successful completion of the projects, organizations often reward their project managers using a standardized … incentive plan; that is, they reward the success of all managers equivalently disregarding the differential amount of resources …
Persistent link: https://www.econbiz.de/10011897812
improving efficiency. …
Persistent link: https://www.econbiz.de/10003860963
The design of CEO incentives is particularly important for firms in financial distress. We compare the resolution of CEO incentive problems in distressed firms between the 1980s versus the 1990s, focusing on how changes in contractual provisions, as well as in the executive labor market,...
Persistent link: https://www.econbiz.de/10013065668