We provide evidence that CEO equity incentives, especially stock options, influence stock liquidity risk via information disclosure quality. We document a negative association between CEO options and the quality of future managerial disclosure policy. Contributing to the literature on CEO...

Influenced by their compensation plans, CEOs make their own luck through decisions that affect future firm risk. After adopting a relative performance evaluation (RPE) plan, total and idiosyncratic risk are higher, and the correlation between firm and industry performance is lower. The opposite...

This paper investigates the impact of firms’ positions in the network of intersectoral input-output linkages on the use, intensity, and implementation of relative performance evaluation (RPE) in CEO compensation contracts. Consistent with a fundamental but not thoroughly investigated...