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Convergence in CEO pay occurs when pay differentials narrow over time. We analyze and compare differences in the rate of convergence in CEO pay of Australian listed firms with high shareholding concentration (HSC) and without, for the period 1992 to 2009. We find zero and negative...
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the CEO's contribution to long-term firm value. I show that when shareholders' investment horizon is longer, there is a … awards creates the distortionary incentive for CEOs to reduce investment growth, such adverse effect is significantly …
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I present and estimate a dynamic model of chief executive officer (CEO) compensation and effort provision. I find that variation in CEO attributes explains the majority of variation in compensation (equity and total) but little of the variation in firm value. The primary drivers of...
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: reducing the opportunity for managers to transfer value to equityholders from creditors via strategic default, and reducing the …
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Managers' incentives may conflict with those of shareholders or creditors, particularly at leveraged, opaque banks …
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: reducing the opportunity for managers to transfer value to equityholders from creditors via strategic default, and reducing the …
Persistent link: https://www.econbiz.de/10012932017