The benefit of non-information rationing aggregate performance evaluation is studied in a limited commitment setting. Depending on the prior distribution of the managerial skill parameter, an equal bonus rule, that is intertemporal aggregation of performance measures, can be efficient as it...

This paper studies costly pre-CEO executive skill accumulation by executives, followed by stable matching between firms and CEOs. An increase in the heterogeneity of firm size relative to executive type induces a decrease in the informational effect of skill accumulation, resulting in...

This paper studies costly pre-CEO executive skill accumulation by executives, followed by stable matching between firms and CEOs. An increase in the heterogeneity of firm size relative to executive type induces a decrease in the informational effect of skill accumulation, resulting in...