We study non-contractible intangible investment in a dynamic agency model with multitasking. The manager's short-term task determines current performance which deteriorates with investment in the firm's future profitability, his long-term task. The optimal contract dynamically balances...

We investigate experimentally how the enforcement of negative say on pay (SoP) votes affects a CEO's investment incentives, the level and structure of executive compensation, and firm performance. We operationalize the board's discretion in response to a no-vote via three levels of SoP...