Showing 21 - 30 of 41,863
This paper examines compensation for the underwriting activity in firm commitment initial public offerings (IPOs) of … common stock in the U.S. When compensation for origination, management and marketing efforts are excluded from total … underwriter compensation, we find that the portion of the total compensation assigned for the underwriting activity itself exceeds …
Persistent link: https://www.econbiz.de/10011310310
potential for considerable subjectivity and variation. Using unique panel data, this paper provides compensation estimates that … can help reduce the subjectivity of awards by giving a benchmark for the compensation required to offset direct and … the monetary compensation required to offset the wellbeing losses. Estimates allowing for the endogeneity of income …
Persistent link: https://www.econbiz.de/10011345371
In this paper we propose different criteria to rank income distributions according to equality of opportunity. Different from existing ones, our criteria explicitly recognize the interplay between circumstances and effort. We characterize them axiomatically and we compare them with existing...
Persistent link: https://www.econbiz.de/10011379816
In this paper we propose different criteria to rank income distributions according to equality of opportunity. Different from existing ones, our criteria explicitly recognize the interplay between circumstances and effort. We characterize them axiomatically and we compare them with existing...
Persistent link: https://www.econbiz.de/10011401677
predict that the design and implementation of a performance measurement and compensation system affect the motivation of … compensation system and extrinsic motivation. Intrinsic motivation is not affected by the design of monetary compensation, but by … promotion opportunities. The compensation system also significantly affects work satisfaction and turnover intent. Our results …
Persistent link: https://www.econbiz.de/10010325033
that the absence of a social loss is a necessary, but not sufficient, condition for the denial of compensation. The victim … (or a third party) may have actually paid for protection against purely private losses. Thus, compensation should be … awarded irrespective of whether national law treats the case under tort or contract (where compensation is undisputed …
Persistent link: https://www.econbiz.de/10010325460
A worker's utility may increase with his income, but envy can make his utility decline with his employer's income. This article uses a principal-agent model to study profit-maximizing contracts when a worker envies his employer. Envy tightens the worker's participation constraint and so calls...
Persistent link: https://www.econbiz.de/10010325487
can be mitigated through transfer and tax changes. It turns out that compensation of the losers is possible in such a way …
Persistent link: https://www.econbiz.de/10010326879
compensation. We argue that excessive risk taking in the financial sector originates from the shareholder moral hazard created by … utilize the compensation scheme to drive a wedge between the interests of top management and shareholders to counteract …
Persistent link: https://www.econbiz.de/10010327863
This paper develops a dynamic framework to analyze the political sustainability of economic reforms in developing countries. First, we demonstrate that economic reforms that are proceeding successfully may run into a political impasse, with the reform's initial success having a negative impact...
Persistent link: https://www.econbiz.de/10010333413