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Relative Wealth Concerns, Executive Compensation, and Systemic Risk-Taking

Liu, Qi - 2016

wealth concerns, in which a manager's satisfaction with his own compensation depends on the compensation of other managers … to luck provides insurance to managers against a compensation shortfall relative to executive peers during market … fluctuations. When all firms pay for luck, we show that an effort-inducing mechanism exists: managers have additional incentives to …

Persistent link: https://www.econbiz.de/10013210402

Relative Performance Evaluation, Sabotage, and Disclosure

Bloomfield, Matthew J.; Heinle, Mirko Stanislav; … - 2021

Many firms use relative stock performance to evaluate and incentivize their CEOs. We provide evidence that these firms routinely disclose information that harms peers’ stock prices. Consistent with deliberate sabotage, peer-harming disclosures appear to be aimed at the peers whose stock price...

Persistent link: https://www.econbiz.de/10013210880

Venture Capitalist Directors and Managerial Incentives

Litov, Lubomir P.; Liu, Xia (Summer); Megginson, William L. - 2021

We examine the effect of board members with venture capital experience (i.e., VC directors) on executive incentives at publicly listed firms. VC directors serving on the compensation committee are associated with greater CEO risk-taking incentives (i.e., vega) and greater pay-for-performance...

Persistent link: https://www.econbiz.de/10013211007

Affiliation, Integration, and Information : Ownership Incentives and Industry Structure

Hubbard, Thomas N. - 2021

This paper presents theory and evidence on horizontal industry structure, focusing on situations where plant …

Persistent link: https://www.econbiz.de/10013213411

External fairness of executive compensation, institutional investor and M&A premium

Pan, Ailing; Wu, Qian; Li, Jingwei - In: Nankai business review international 13 (2022) 1, pp. 79-99

Persistent link: https://www.econbiz.de/10012880411

Does ex ante severance pay affect the timeliness of bad news disclosure? : the role of managerial exit costs

Akamah, Herita; Brockbank, Bryan; Shu, Sydney Qing - In: Journal of accounting, auditing & finance : JAAF 37 (2022) 2, pp. 440-465

Persistent link: https://www.econbiz.de/10013175316

Manager Fee Contracts and Managerial Incentives

Zhan, Gong - 2010

and mutual fund managers. We find that the option-like performance fee structure prevalent among hedge funds is suboptimal … the water and when the manager's skill is poor. Allowing managers to invest personal wealth in their own funds, however …

Persistent link: https://www.econbiz.de/10013145185

Executive Pay and Firm Size in the Presence of Career Concerns and Labor Market Competition

Sung, Jaeyoung - 2010

larger firms. Due to the cost of compensating managers for risk, pay-performance sensitivity optimally declines with size …

Persistent link: https://www.econbiz.de/10013146732

Executive Stock-Based Compensation : A Case Study in Valuing Employee Stock Options and Restricted Stock Issues in a Breach of Contract Case

Steward, Dwight - 2010

In this case study, the former CEO of a large telecommunication company filed a lawsuit against her former employer that alleged that the company's contract breach resulted in the loss ESO grants and diminished the value of the vested ESOs that she held at the time of the alleged contract...

Persistent link: https://www.econbiz.de/10013147170

Corporate Governance Externalities

Acharya, Viral V. - 2010

affected by, the choice of governance by other firms. Firms with weaker governance offer managers more generous incentive …

Persistent link: https://www.econbiz.de/10013148654