more sensitive to the firm's stock price the innovation performance of a firm improves. Entrenched managers, however, are …This paper investigates whether aligning manager and owner incentives can improve the innovation performance of firms …-term incentives have little impact on innovation. Higher managerial tenure increases the probability of R&D spending and innovation …

This paper provides highly significant evidence that golden parachutes spur innovation in concentrated … lead to higher levels of innovation quantity and quality through a risk-taking mechanism. The positive effects of … parachutes on innovation are more pronounced when ownership concentration increases for SOEs, as well as when ownership …

compensation of managers switching between firms with different SPI …

managers and shareholders. Our study extends the literature by examining the incorporation of debt-related performance metrics …

: reducing the opportunity for managers to transfer value to equityholders from creditors via strategic default, and reducing the …

objectives. It is shown that, paradoxically, firm owners allow managers with higher propensity to manipulate the short‐term stock … price to push for higher powered and more short‐term‐focused equity incentives. Such managers also work harder, and …