The study aims at identifying the influence of interior pay gap between senior executives and ordinary employees on the organization's future performance for listed Chinese firms. In addition, two other moderator variables have been included in the study referring management power as the...

This paper investigates how executive employment contracts influence corporate financial policies during the final year of the contract term, using a new, hand-collected data set of CEO employment agreements. On the one hand, the impending expiration of fixed-term employment contracts creates...

This paper studies, both theoretically and empirically, the optimal executive compensation when firm performance is a noisy signal of executive’s hidden effort and the volatility of firm performance is stochastic. We build a tractable dynamic principal-agent model and show analytically that...