This study examines managerial compensation incentives and its impact on firm's financial decisions. Specifically, we examine how CEO's inside-debt based compensation incentives (pension benefits and other deffered compensation) influences firm's debt maturity structure. We examine this...

This paper studies leverage dynamics when managers cannot commit to future financing and default policies ex-ante. Managers derive private benefits of control but debt constrains their flexibility, and thus, they build up less excessive leverage and may even actively reduce debt over time....

This study examines the integration of corporate social responsibility (CSR) criteria in executive compensation, a relatively recent practice in corporate governance. We construct a novel database of CSR contracting and document that CSR contracting has become more prevalent over time. We...