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rates on managersrisk-taking incentives proxied by the sensitivity of executive compensation to stock return volatility … increase the managers’ short-term risk-taking incentives and that those incentives contribute to the risk effectively taken by … incentives of US managers to adopt riskier business policies. Specifically, based on the agency problems between shareholders and …
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Results from laboratory experiments using real-effort tasks provide mixed evidence on the relationship between monetary incentives and effort provision. To examine this issue, we design three experiments where subjects participate in two-player real-effort tournaments with two prizes. Experiment...
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Recent research has renewed interest in the exploration of the optimal design of monetary policy institutions in the presence of uncertainty. In this paper, we revisit the rationale for delegation to a weight-conservative central banker when the social planner’s knowledge about the true...
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