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The moderating effect of relative performance evaluation on the risk incentive properties of executives' equity portfolios
Park, Hyungshin; Vrettos, Dimitris - In: Journal of accounting research 53 (2015) 5, pp. 1055-1108
Persistent link: https://www.econbiz.de/10011410716
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On managerial risk-taking incentives when compensation may be hedged against
Cvitanić, Jakša; Henderson, Vicky; Lazrak, Ali - In: Mathematics and financial economics 8 (2014) 4, pp. 453-471
Persistent link: https://www.econbiz.de/10010491928
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Equity incentives, disclosure quality, and stock liquidity risk
Wruck, Karen H.; Wu, Yi Lin - 2017
We provide evidence that CEO equity incentives, especially stock options, influence stock liquidity risk via … disclosure policy. Contributing to the literature on CEO risk-taking, we document a positive association between CEO options and … future systematic stock liquidity risk. Controlling for endogeneity, we show that information disclosure quality is an …
Persistent link: https://www.econbiz.de/10011963233
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Option portfolio risk incentives for CEOs
Brookman, Jeffrey - In: The southern business & economic journal 32 (2009) 3/4, pp. 35-55
Persistent link: https://www.econbiz.de/10009378886
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Reward for failure and executive compensation in institutional investors
Loyola, Gino; Portilla, Yolanda - In: Finance research letters 11 (2014) 4, pp. 349-361
Persistent link: https://www.econbiz.de/10011300443
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Modellierung und Analyse des Dachfondskonzepts mit Hilfe der multiplen Prinzipal-Agenten-Theorie
Günnewig, Daniel - 2004
Persistent link: https://www.econbiz.de/10002611243
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Investment Choice with Managerial Incentive Schemes
Sarkar, Shubhro - 2020
In this paper, we show that firms might get an additional strategic benefit from using marginal-cost-reducing investments in conjunction with a managerial incentive scheme. While both these instruments allow firms to “aggressively” participate in product market competition, we show that they...
Persistent link: https://www.econbiz.de/10012848382
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Double Bonus? Implicit Incentives for Money Managers with Explicit Incentives
Gregoire, Vincent - 2019
We use a unique dataset of European performance-fee mutual funds to examine the interaction between explicit incentives (performance fees) and implicit incentives (fund flows) of asset managers. Funds with performance fees face substantially steeper implicit incentives compared to...
Persistent link: https://www.econbiz.de/10012901776
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Which Incentives Do Portfolio Managers' Compensations Induce?
Wang, Yanjie; Xu, Jing - 2022
Mutual fund managers' compensation packages often contain relative performance-dependent components such as year-end bonus. We examine the incentive effect of such compensation structure using a dynamic trading model with uncertain expected return and costly information. We show that relative...
Persistent link: https://www.econbiz.de/10014238831