This paper examines whether the risk-taking incentives induced by performance-based vesting (p-v) compensation … pricing and restrictive covenants, as the positive effect of incentives induced by p-v based compensation on the cost of bank …

Motivated by agency theory, we explore how independent directors view managerial risk-taking incentives using a natural …-in-difference estimates show that independent directors view powerful risk-taking incentives unfavorably. Our results are consistent with the … notion that strong managerial risk-taking incentives lead to excessive risk-taking and, as a result, are reduced in the …

We study reputation incentives in the director labor market and find that directors with multiple directorships …

future returns and its direction differ depending on the executive compensation packages, suggesting that management …

public intervention, and finally exit. When the blockholder faces short-term incentives, the threat of public intervention … and exit loses credibility, and management pays little heed to private demands. With two blockholders with heterogeneous … incentive horizons, reduction in public intervention by a blockholder with short-term incentives strengthens public intervention …

of evidence that independent director reputation incentives influence the supply of director services. These reputation … incentives vary across firms and over time, significantly influencing important board decisions and firm outcomes. When more …