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Cooperation or Collusion? Rents in Relational Contracts for Teams
Ishihara, Akifumi - 2019
observed individual signals should be aggregated to a commonly observed team signal …
Persistent link: https://www.econbiz.de/10012863568
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Do managers with limited liability take more risky decisions? An information acquisition model
Malcomson, James M. - 2010
Risk-neutral individuals take more risky decisions when they have limited liability. Risk-neutral managers may not when …
Persistent link: https://www.econbiz.de/10010275809
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Do managers with limited liability take more risky decisions? : an information acquisition model
Malcomson, James M. - 2010
Risk-neutral individuals take more risky decisions when they have limited liability. Risk-neutral managers may not when … return. Further results on the form of contracts are also derived. -- managers ; risky decisions ; limited liability …
Persistent link: https://www.econbiz.de/10003937594
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Stock-based compensation plans and employee incentives
Zábojník, Ján - 2014
Standard principal-agent theory predicts that large firms should not use employee stock options and other stock-based compensation to provide incentives to non-executive employees. Yet, business practitioners appear to believe that stock-based compensation improves incentives, and mounting...
Persistent link: https://www.econbiz.de/10010362951
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Managerial Turnover and Entrenchment
Wu, Zenan - 2018
We consider a two-period model in which the success of the firm depends on the effort of a first-period manager (the incumbent) and the ability of a second-period manager. At the end of the first period, the board receives a noisy signal of the incumbent manager's ability and decides whether to...
Persistent link: https://www.econbiz.de/10012937388
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Do Managers with Limited Liability Take More Risky Decisions? An Information Acquisition Model
Malcomson, James M. - 2021
Risk-neutral individuals take more risky decisions when they have limited liability. Risk-neutral managers may not when …
Persistent link: https://www.econbiz.de/10013316254
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Differences in social preferences : are they profitable for the firm?
Küpper, Hans-Ulrich; Sandner, Kai - 2008
This paper analyzes the impact of heterogeneous (social) preferences on the weighting and combination of performance measures as well as on a firm's profitability. We consider rivalry, egoism and altruism as extreme forms within the continuum of possible preferences and show that the principal...
Persistent link: https://www.econbiz.de/10010442170
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Optimal Information Asymmetry and Team Performance Measurement
Rothenberg, Naomi - 2010
. With group measures, only team success is rewarded, but cooperation is more costly in the higher productive states when the … measures, the principal can replicate the group performance measure or induce competition, and in both cases prefers no …
Persistent link: https://www.econbiz.de/10014192463
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Are Top Management Teams Compensated as Teams? A Structural Modeling Approach
Li, Chen - 2019
. The results favor the team perspective under which unilateral shirking is assumed infeasible for managers. The analysis … compensation in S&P 1500 firms, which distinguish between a team perspective and an individual perspective. This approach assesses …-based measures of agency costs. The risk premium can explain up to 37% of total compensation for higher-paid managers in large firms …
Persistent link: https://www.econbiz.de/10012904639
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Are Top Management Teams Compensated as Teams? A Structural Modeling Approach
Li, Chen - 2019
. The results favor the team perspective under which unilateral shirking is assumed infeasible for managers. The analysis … compensation in S&P 1500 firms, which distinguish between a team perspective and an individual perspective. This approach assesses …-based measures of agency costs. The risk premium can explain up to 37% of total compensation for higher-paid managers in large firms …
Persistent link: https://www.econbiz.de/10012899926