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Clawback Provisions in Executive Compensation Contracts
Stark, Johanna - 2020
Clawbacks are contractual provisions in executive compensation contracts that allow for an ex post recoupment of variable pay if certain triggering conditions are met. As a result of regulatory responses to financial crises and corporate scandals as well as of growing shareholder pressure to...
Persistent link: https://www.econbiz.de/10012833330
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The Diminishing Returns of Incentive Pay in Executive Compensation Contracts
Lund, Andrew - 2014
For the past 30 years, the conventional wisdom has been that executive compensation packages should include very large proportions of incentive pay. This incentive pay orthodoxy has become so firmly entrenched that the current debates about executive compensation simply take it as a given. We...
Persistent link: https://www.econbiz.de/10013068058
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Dual Ownership and Risk-taking Incentives in Managerial Compensation
Chen, Tao - 2020
This paper studies how managerial compensation is shaped by the risk preference of shareholders. Firms with a large ownership held by "dual holders'' -- institutional investors that simultaneously hold equity and bonds of the company -- choose a less risk-inducing compensation structure....
Persistent link: https://www.econbiz.de/10012848455
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How Do Ex-Ante Severance Pay Contracts Fit into Optimal Executive Incentive Schemes?
Rau, P. Raghavendra - 2013
set ex ante explicit severance pay agreements as one component in managing the optimal level of equity incentives. Younger … post payouts to managers are largely determined by the ex ante contract terms …
Persistent link: https://www.econbiz.de/10013089564
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Compensation and Competition for Talent : Talent Scarcity or Incentives?
Giannetti, Mariassunta - 2014
We show that long-term compensation is associated with higher pay in the financial industry and the legal sector. Then, using a detailed survey of law school graduates, we explore why firms use long-term compensation. We find that individuals with jobs that make them highly visible and that...
Persistent link: https://www.econbiz.de/10013064773
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How do Ex-Ante Severance Pay Contracts Fit into Optimal Executive Incentive Schemes?
Rau, P. Raghavendra - 2012
set ex ante explicit severance pay agreements as one component in managing the optimal level of equity incentives. Younger … post payouts to managers are largely determined by the ex ante contract terms …
Persistent link: https://www.econbiz.de/10013116288
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Compensation and Employment Contracts of Powerful CEOs
Song, Wei-Ling - 2016
This paper examines why powerful CEOs are paid more in total compensation. Broadly, our results are consistent with the managerial ability view. First, CEO power is endogenously determined reflecting the CEO's ability. Specifically, founder-CEOs are more powerful than professional- and heir-CEOs...
Persistent link: https://www.econbiz.de/10012999536
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Treatment of Outliers : Firm Heterogeneity in Managerial Incentive and Corporate Innovation
Ho, Wai-Tung - 2018
Ordinary least squares (OLS) estimates are frequently used to measure the effects of managerial incentives on corporate …
Persistent link: https://www.econbiz.de/10012927101
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How important are risk-taking incentives in executive compensation?
Dittmann, Ingolf; Yu, Ko-Chia - 2009
-taking incentives in addition to effort incentives. We develop a stylized principal-agent model that captures the interdependence … between firm risk and managerial incentives. We calibrate the model to individual CEO data and show that it can explain … with the almost uniform use of at-the-money stock options. We conclude that the provision of risk-taking incentives is a …
Persistent link: https://www.econbiz.de/10011378949
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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