, generally implicit assumption that managers cannot undo their incentive packages, (ii) the standard modeling practice of … motives in managers' portfolio choices. …

all cases, explicit, non-discretionary ESG incentives are economically insignificant relative to executives’ incentives to … companies, explicit, non-discretionary ESG incentives were incorporated only in annual bonus plans. One sample company – Duke …. While this approach could be seen as a roadmap for those seeking meaningful ESG-based pay incentives, this Article concludes …

incentives, and why peer firm pay matters beyond retention concerns. Fairness also matters to investors, with shareholder returns …