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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 …
Persistent link: https://www.econbiz.de/10011963233
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Incentives, Risk and Compensation Schemes : Experimental Evidence on the Importance of Risk Adequate Compensation
Conrad, Christian - 2023
Compensation schemes have been blamed for encouraging excess risk-taking on the part of managers within the financial system and real economy. In general, compensation cannot decrease below the base salary, while gains from bonuses can be limitless. The potential link between compensation and...
Persistent link: https://www.econbiz.de/10014348916
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Managerial Incentives, Risk Aversion, and Debt
Milidonis, Andreas - 2012
firm risk, even in the presence of strong risk taking incentives. Our results are robust to controls for the sensitivity of … CEO wealth to stock price changes, firm risk determinants, the endogenous feedback effects of firm risk on CEO incentives …
Persistent link: https://www.econbiz.de/10013114493
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Uncertainty, Risk, and Incentives : Theory and Evidence
He, Zhiguo - 2013
Uncertainty has qualitatively different implications than risk in studying executive incentives. We study the interplay … who face greater uncertainty desire faster learning, and consequently offer higher managerial incentives to induce higher … generates a positive relation between profitability uncertainty and incentives. We document empirical support for this …
Persistent link: https://www.econbiz.de/10013083655
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Uncertainty, Risk, and Incentives : Theory and Evidence
He, Zhiguo - 2013
Uncertainty has qualitatively different implications than risk in studying executive incentives. We study the interplay …. Investors who face greater uncertainty desire faster learning, and consequently offer higher managerial incentives to induce … generates a positive relation between profitability uncertainty and incentives. We document empirical support for this …
Persistent link: https://www.econbiz.de/10013091353
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Managerial Incentives to Increase Risk Provided by Debt, Stock, and Options
Anderson, Joshua D. - 2017
We measure a manager's risk-taking incentives as the total sensitivity of the manager's debt, stock, and option …. Vega does not capture risk-taking incentives from managers' stock and debt holdings and does not reflect the fact that …
Persistent link: https://www.econbiz.de/10012975114
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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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Performance pay and risk aversion
Grund, Christian; Sliwka, Dirk - 2006
A main prediction of agency theory is the well known risk-incentive trade-off. Incentive contracts should be found in …
Persistent link: https://www.econbiz.de/10010365868
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Competition and risk-taking
Gürtler, Oliver; Struth, Lennart; Thon, Max - 2022
In many situations, agents take risks by choosing an action that increases their performance immediately, but that potentially leads to a large loss. The current paper studies how such risk-taking behavior depends on the level of competition that the agents face. We study a tournament model and...
Persistent link: https://www.econbiz.de/10013337710
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Competition and risk-taking
Gürtler, Oliver; Struth, Lennart; Thon, Max - 2022 - Updated version
In many situations, agents take risks by choosing an action that increases their performance immediately, but that potentially leads to a large loss. The current paper studies how such risk-taking behavior depends on the level of competition that the agents face. We study a tournament model and...
Persistent link: https://www.econbiz.de/10013438624