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Essays in finance

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The scapegoating premium : a rational view of new CEO compensation

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Wirtschaftliches Risiko und persönliche Verantwortung der Manager : [der vorliegende Band enthält die Vorträge und Diskussion des 10. Internationalen Berliner Wirtschaftsrechtsgesp...

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Labor Unemployment Risk and CEO Incentive Compensation

Ellul, Andrew - 2017

We investigate the impact of workers' exposure to unemployment risk on CEO incentive compensation. Exploiting state … insurance benefits become more generous boards increase the convex payoff structure of CEO pay to encourage risk-taking. The … is one mechanism used by boards to internalize labor market frictions in firms' decisions …

Persistent link: https://www.econbiz.de/10012971766