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Perverse incentives at the banks? : evidence from a natural experiment
Agarwal, Sumit; Wang, Faye H. - 2009 - Draft: August 20, 2009
Incentive provision is a central question in modern economic theory. During the run up to the financial crisis, many banks attempted to encourage loan underwriting by giving out incentive packages to loan officers. Using a unique data set on small business loan officer compensation from a major...
Persistent link: https://www.econbiz.de/10003892598
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How important are risk-taking incentives in executive compensation?
Dittmann, Ingolf; Yu, Ko-Chia - 2009
-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 model to individual CEO data and show that it can explain … with the almost uniform use of at-the-money stock options. We conclude that the provision of risk-taking incentives is a …
Persistent link: https://www.econbiz.de/10011378949
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The effect of horizontal pay dispersion on the effectiveness of performance-based incentives
Grabner, Isabella; Martin, Melissa A. - 2020
Persistent link: https://www.econbiz.de/10012259290
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Monetary rewards, hierarchy level and working hours as drivers of employees' self-evaluations
Grund, Christian; Soboll, Alexandra - 2023
comparison to their colleagues' performance. Making use of unique individual panel data of ten large firms in Germany's chemical …
Persistent link: https://www.econbiz.de/10014249264
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An activist view of CEO compensation
Baum, Alex; Hale, Robert; Morfit, Mason; Larcker, David F. - 2017
Understanding CEO compensation plans is a continuing challenge for directors and investors. The disclosure of these plans is dictated by SEC rules that rely heavily on the “fair value” of awards at the time they are granted. The problem with these numbers is that they are static and do not...
Persistent link: https://www.econbiz.de/10011870307
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Does say on pay matter? : evidence from Germany
Tröger, Tobias; Walz, Uwe - 2019
Shareholder Rights Directive. First, we observe that the compensation packages of management board members of Germany's DAX30 … few pronouncedly discontent say on pay-votes in corporate Germany − only where disapproval is voiced supervisory boards …
Persistent link: https://www.econbiz.de/10012061896
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Hidden benefits of reward : a field experiment on motivation and monetary incentives
Kvaløy, Ola; Nieken, Petra; Schöttner, Anja - 2013
interaction with monetary incentives. We find that motivational talk significantly improves performance only if it is accompanied …
Persistent link: https://www.econbiz.de/10009793159
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Hidden benefits of reward : a field experiment on motivation and monetary incentives
Kvaløy, Ola; Nieken, Petra; Schöttner, Anja - 2013
interaction with monetary incentives. We find that motivational talk significantly improves performance only when accompanied by …
Persistent link: https://www.econbiz.de/10010342223
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University vice-chancellor pay, performance and (asymmetric) benchmarking
Gschwandtner, Adelina; McManus, Richard - 2018
We study the pay of UK universities chief executives ("vice-chancellors") over a ten year period. Although there is a correlation between pay and performance, with better performing institutions paying higher salaries, we find limited evidence that this relationship is causal; that is, we find...
Persistent link: https://www.econbiz.de/10011856876
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Regulating deferred incentive pay
Hoffmann, Florian; Inderst, Roman; Opp, Marcus M. - 2015
Our paper evaluates recent regulatory proposals mandating the deferral of bonus payments and claw-back clauses in the financial sector. We study a broadly applicable principal agent setting, in which the agent exerts effort for an immediately observable task (acquisition) and a task for which...
Persistent link: https://www.econbiz.de/10010518015