This paper reviews the theoretical and empirical literature on executive compensation. We start by presenting data on the level of CEO and other top executive pay over time and across firms, the changing composition of pay; and the strength of executive incentives. We compare pay in U.S. public...

Approximately 30% of housing defaults are strategic: the homeowner is able to make the payments but rationally chooses not to do so due to negative equity. This document describes the Responsible Homeowner Reward (“RH Reward”), an incentive plan to deter strategic defaults by increasing the...

"Should companies be run to earn a profit, or to serve a purpose? In this ground-breaking book, acclaimed finance professor and TED speaker Alex Edmans shows it's not an either-or choice. Drawing from the highest-quality evidence and real-life examples spanning industries and countries, Edmans...