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Industry Tournament Incentives and Corporate Innovation Strategies
Kong, Lingfei - 2020
This paper examines how the tournament-like progression in the CEO labor market influences corporate innovation strategies. By exploiting a text-based proxy for product innovation based on product descriptions from 10-Ks, we find a significant positive relation between industry tournament...
Persistent link: https://www.econbiz.de/10012850347
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Managers’ Stock-Based Compensation and Disclosures of High Proprietary Cost Information : An Investigation of US Biotech Firms
Enache, Luminita - 2020
proprietary information. While prior studies suggest that stock-based compensation provides managers with an incentive to enhance … that, on average, managers' stock-based compensation is not significantly related with their disclosure of high proprietary … cost information. More importantly, we find that a larger amount of stock-based compensation motivates managers to reveal …
Persistent link: https://www.econbiz.de/10012853081
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How Do Quasi-Random Option Grants Affect CEO Risk-Taking?
Shue, Kelly - 2017
We examine how an increase in stock option grants affects CEO risk-taking. The overall net effect of option grants is theoretically ambiguous for risk-averse CEOs. To overcome the endogeneity of option grants, we exploit institutional features of multi- year compensation plans, which generate...
Persistent link: https://www.econbiz.de/10012974660
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Factors Influencing CEO Compensation in US Telecommunication Industry
Garanina, Tatiana - 2019
The objective of this paper is to define the relationship between a set of factors and CEO compensation that will enable companies to imply better corporate governance practices in their management process. Developed econometric model is tested on the data of US telecom companies for the period...
Persistent link: https://www.econbiz.de/10012859017
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CEO Compensation in Japan : Why So Different From the U.S.?
Pan, Luyao - 2018
In March 2010, Japanese regulators implemented the country's first legislation concerning the disclosure of director compensation for named individuals. Using the first publicly available data for Japanese executives, we document direct evidence on the level, structure, and mechanisms of CEO...
Persistent link: https://www.econbiz.de/10012917053
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Shareholders Have a Say in Executive Compensation : Evidence from Say-on-Pay in the United States
Kimbro, Marinilka Barros - 2015
This paper examines the SEC regulation requiring non-binding general shareholder vote on executive compensation–“say-on-pay” (SOP). We examine the first two years of SOP in the Russell 3000. The results confirm previous shareholder-proposal studies by finding that SOP approval (reject)...
Persistent link: https://www.econbiz.de/10013036020
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Is U.S. CEO Compensation Broken?
Core, John E.; Guay, Wayne R.; Thomas, Randall S. - 2023
Critics of U.S. executive pay practices have raised four major concerns: (1) executive pay is too high; (2) CEO contracts do not provide strong enough incentives to increase value (i.e., there is too little pay-for-performance); (3) options and other equity-based pay provide windfalls, large...
Persistent link: https://www.econbiz.de/10014254436
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Managerial Cost Inefficiency and Takeovers of U.S. Thrifts
Cebenoyan, Fatma - 2016
This paper uses a two-step methodology to examine the relationship between managerial cost inefficiency and the takeover of U.S. thrifts during a period of market liberalization and widespread takeover activity, 1994 to 2000. In the first stage using stochastic cost frontiers, controllable...
Persistent link: https://www.econbiz.de/10013004388
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Efficiency, Value Addition and Performance of US Bank Mergers
Khan, Abu - 2017
goal of this paper is to investigate the change in operating performance, efficiency, and value addition of US bank mergers … adjusted performance more than product focused mergers. The efficiency or profitability of targets have either a positive or no …
Persistent link: https://www.econbiz.de/10012964750
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Ability, performance, and compensation : a theoretical and empirical investigation of managerial labor contracts
Murphy, Kevin James - 1984
Persistent link: https://www.econbiz.de/10001594969