This paper extends a standard principal-agent model of CEO compensation by modeling the progressive attenuation of information asymmetries between firm insiders and shareholders in continuous time. In this setting, we show that the optimal timing of compensation results from a tradeoff between...

Are early retiree health benefits (RHBs) a form of deferred compensation that binds workers to an employer? Most employers who offer RHBs offer them only to workers who have 10 or more years of tenure with the firm and have reached age 55. Accordingly, workers in firms offering RHBs have an...

This paper provides empirical evidence of the effect stock options and total compensation on the job turnover of corporate Chief Executive Officers (CEOs). Our estimates indicate that both the amount and the composition of the compensation package are important determinants of CEO turnover...

CEO inside debt holdings (pension benefits and deferred compensation) are generally unsecured and unfunded liabilities of the firm. Because these characteristics of inside debt expose the CEO to default risk similar to that faced by outside creditors, theory predicts that CEOs with large inside...

This paper focuses on the German labor market for older workers. It does so in comparison with other countries and with a unique focus on the role of employer incentives for retaining and hiring older workers. It argues that while employment of older German workers has improved due to changes in...

Are early retiree health benefits (RHBs) a form of deferred compensation binding workers to an employer? Most employers who offer RHBs offer them only to workers who have ten or more years of tenure and have reached age fifty-five. Accordingly, workers in firms offering RHBs have an incentive to...

Ein Ziel der Universitäten Nordrhein Westfalens ist die Förderung des wissenschaftlichenNachwuchses. Nach wie vor sind die Hochschulen jedoch keineswegs Vorbilder einergleichberechtigten Geschlechterpolitik. Vielmehr zeigen die geschlechterdifferenzierten Beteiligungsrateneiniger Studiengänge...

Veränderte Marktbedingungen stellen hohe Anforderungen an das Marketing von Dienstleistungsunternehmen. Um langfristig am Markt bestehen zu können, ist es für einen Dienstleistungsanbieter entscheidend, das Vertrauen seiner Kunden zu gewinnen. Aufbauend auf theoretischen Grundlagen werden am...