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Asai, Kentaro - 2017

This paper develops a theoretical framework to study the impact of bonus caps on banks' risk taking. In the model … market mobility, bonus caps simultaneously reduce risk shifting by bank executives (too much risk taking because of limited … of bonus caps critically depend on initial conditions, including the relative importance of risk shifting versus …

Persistent link: https://www.econbiz.de/10012950435

Do Directors Suffer External Consequences for Poor Oversight of Executive Compensation? Evidence from Say-on-Pay Votes

Brunarski, Kelly R. - 2016

We provide the first evidence of significant external labor market penalties when directors fail to properly oversee executive compensation. When shareholders express disapproval through low Say-On-Pay (SOP) support, equity values decrease at firms linked by a shared director (interlocking...

Persistent link: https://www.econbiz.de/10012984898

Sorting Effects of Broad-Based Equity Compensation

Tsui, David - 2020

We examine the sorting role of broad-based equity pay using detailed employee-level data. We propose trust in management as an important and beneficial characteristic over which equity pay sorts employees, as such pay typically leaves employees with concentrated positions in employer stock and...

Persistent link: https://www.econbiz.de/10012851565

Payday Before Mayday : CEO Compensation Contracting for Distressed Firms

Carter, Mary Ellen - 2020

Using a sample of more than 1,500 US public firms in the period 1998-2016, we examine how firms endogenously adjust CEO compensation contracts when they become financially distressed. The link between compensation and equity-based measures of firm performance is positive and strong prior to...

Persistent link: https://www.econbiz.de/10012851901

Board Independence and the Design of Executive Compensation

Singh, Ravi - 2007

Executive compensation serves as a metric by which investors measure the quality of a firm's governance. In this paper, I explore how the signaling role of executive compensation impacts the compensation decisions of boards. I show that reputational concerns often cause boards to adopt pay...

Persistent link: https://www.econbiz.de/10012732156

Executive Compensation : Populist Sentiments Hiding Social Values (Hebrew)

Ayal, Adi - 2010

The regulation of executive compensation is like the phoenix of corporate debate. Every once in a while it rises from the ashes, dominates public debate with strong statements regarding efficiency, justice, and what managers "deserve" - and returns to rest until the next time populist sentiments...

Persistent link: https://www.econbiz.de/10014190088

The Interrelationship of CEO Nationality with Financial Management, Firm Performance, and CEO Compensation

Jalbert, Terrance; Chan, Canri; Jalbert, Mercedes; … - 2011

In this exploratory research, and driven by intense interest in media focused attention on the apparently wide differential in pay contrast between US top managers in large corporations versus their non-US top managers, we examined the backgrounds of the highest paid Chief Executive Officers...

Persistent link: https://www.econbiz.de/10014046282

Chapter 4. Executive Compensation: Where We Are, and How We Got There

Murphy, Kevin J. - 2013

In this study, I summarize the current state of executive compensation, discuss measurement and incentive issues, document recent trends in executive pay in both U.S. and international firms, and analyze the evolution of executive pay over the past century. Most recent analyses of executive...

Persistent link: https://www.econbiz.de/10014025560

Financial Accounting Regulation and Executive Compensation Design

Zhou, Wei - 2011

We examine the economic consequences of the recent adoption of SFAS 123(R) in the United States. Consistent with the conjectures of prior research, our results show that the removal of favorable accounting treatment for stock options post SFAS 123(R) results in a switch from stock options to...

Persistent link: https://www.econbiz.de/10013123417

Executive Compensation Consultants

Bender, Ruth - 2011

Remuneration consultants are an integral part of the process of determining executive pay in large listed companies. This paper discusses the role of the consultants in the United Kingdom, United States and Canada, analyses their industry and the factors currently affecting it, and summarizes...

Persistent link: https://www.econbiz.de/10013128348