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Trading away incentives
Colonnello, Stefano; Curatola, Giuliano Antonio; Xia, Shuo - 2022 - This draft: October 19, 2022
Equity pay has been the primary component of managerial compensation packages at US public firms since the early 1990s. Using a comprehensive sample of top executives from 1992-2020, we estimate to what extent they trade firm equity held in their portfolios to neutralize increments in ownership...
Persistent link: https://www.econbiz.de/10013411812
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Equity incentives, disclosure quality, and stock liquidity risk
Wruck, Karen H.; Wu, Yi Lin - 2017
We provide evidence that CEO equity incentives, especially stock options, influence stock liquidity risk via information disclosure quality. We document a negative association between CEO options and the quality of future managerial disclosure policy. Contributing to the literature on CEO...
Persistent link: https://www.econbiz.de/10011963233
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Do CEOs make their own luck? : relative versus absolute performance evaluation and firm risk
Wruck, Karen H.; Wu, Yi Lin - 2017 - Current Draft: 10/5/17
Influenced by their compensation plans, CEOs make their own luck through decisions that affect future firm risk. After adopting a relative performance evaluation (RPE) plan, total and idiosyncratic risk are higher, and the correlation between firm and industry performance is lower. The opposite...
Persistent link: https://www.econbiz.de/10011968863
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Peer evaluation : incentives and co-worker relations
Sol, Joeri - 2010
truthful. Still, the principal will always include such a bonus in the optimal contract, and possibly complement it with a team …
Persistent link: https://www.econbiz.de/10011380732
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Incentivizing team leaders : a firm-level experiment on subjective performance evaluation of leadership skills
Gall, Thomas; Hu, Xiaocheng; Vlassopoulos, Michael - 2023
In teamwork settings, providing effective leadership can be challenging for team leaders due to multitasking and the …, which can ultimately impede the productivity of the team. To address this problem, we conduct a field experiment at a … manufacturing firm, introducing a relative subjective performance evaluation of team leaders' leadership activities by their …
Persistent link: https://www.econbiz.de/10014278019
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Multi-rater performance evaluations and incentives
Ockenfels, Axel; Sliwka, Dirk; Werner, Peter - 2024
We compare evaluations of employee performance by individuals and groups of supervisors, analyzing a formal model and running a laboratory experiment. The model predicts that multi-rater evaluations are more precise than single-rater evaluations if groups rationally aggregate their signals about...
Persistent link: https://www.econbiz.de/10014493793
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Multi-rater performance evaluations and incentives
Ockenfels, Axel; Sliwka, Dirk; Werner, Peter - 2024
We compare evaluations of employee performance by individuals and groups of supervisors, analyzing a formal model and running a laboratory experiment. The model predicts that multi-rater evaluations are more precise than single-rater evaluations if groups rationally aggregate their signals about...
Persistent link: https://www.econbiz.de/10014552994
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The impact of relative CEO pay on employee productivity
Afzali, Aaron; Oxelheim, Lars; Randøy, Trond; Vieito, … - 2023
In this study, we examine the relationship between within-firm pay inequality and employee productivity. We use hand-collected data on a sample of S&P 1500 companies from 2018-2022 and find a concave relationship between the relative CEO pay and employee productivity. Consistent with tournament...
Persistent link: https://www.econbiz.de/10014251441
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Incentives, peer pressure, and behavior persistence
Gallani, Susanna - 2017
payoffs are awarded upon achievement of team goals, which measure the success of the initiative. In this study I explore … period. In many cases, achieving team goals requires the cooperation of members of the organization external to the team and …
Persistent link: https://www.econbiz.de/10011876922
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Treating equals unequally : incentives in teams, workers' motivation and production technology
Goerg, Sebastian; Kube, Sebastian; Zultan, Ro'i - 2009
necessary nor a sufficient prerequisite for eliciting high performance in teams. -- Team incentives ; equity ; production …
Persistent link: https://www.econbiz.de/10003800929