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Managerial performance incentives and firm risk during economic expansions and recessions
Şişli-Ciamarra, Elif; Savaser, Tanseli - 2015
Persistent link: https://www.econbiz.de/10011348551
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How important are risk-taking incentives in executive compensation?
Dittmann, Ingolf; Yu, Ko-Chia - 2009
This paper investigates whether observed executive compensation contracts are designed to provide risk-taking incentives in addition to effort incentives. We develop a stylized principal-agent model that captures the interdependence between firm risk and managerial incentives. We calibrate the...
Persistent link: https://www.econbiz.de/10011378949
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Essays on executive compensation
Liu, Qi - 2012
Persistent link: https://www.econbiz.de/10011819090
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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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Bankers' pay and excessive risk
Thanassoulis, John; Tanaka, Misa - 2015
Persistent link: https://www.econbiz.de/10011402766
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Do firms gain from managerial overconfidence? : the role of severance pay
Graziano, Clara; Luporini, Annalisa - 2022
negative effect on profit. Overconfidence, on the contrary, reduces incentive pay as shown by the previous literature, while …We analyze the effects of optimism and overconfidence when the manager's compensation package includes severance pay … its effect on severance pay depends on the intensity of the bias. High values of overconfidence yield an inefficient level …
Persistent link: https://www.econbiz.de/10013255972
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Are CEOs incentivized to avoid corporate taxes? : empirical evidence on managerial bonus contracts
Schmittdiel, Heiner - 2014
explanation is that managers require to be compensated for the additional risk inherent in running an aggressive tax strategy. In …
Persistent link: https://www.econbiz.de/10010346227
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How do labor representatives affect incentive orientation of executive compensation?
Dyballa, Katharina; Kraft, Kornelius - 2016
Contrary to previous literature we hypothesize that labor's interest may well – like that of shareholders – aim at securing the long-run survival of the firm. Consequently, employee representatives on the supervisory board could well have an interest in increasing incentive-based...
Persistent link: https://www.econbiz.de/10011526742
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CEO compensation : evidence from the field
Edmans, Alex; Gosling, Tom; Jenter, Dirk - 2021
We survey directors and investors on the objectives, constraints, and determinants of CEO pay. 67% of directors would sacrifice shareholder value to avoid controversy on CEO pay, implying they face significant constraints other than participation and incentive compatibility. These constraints...
Persistent link: https://www.econbiz.de/10012584217
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CEO compensation: evidence from the field
Edmans, Alex; Gosling, Tom; Jenter, Dirk - 2021 - Current draft: June 30, 2021
Persistent link: https://www.econbiz.de/10012610909