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Financial Crisis, Excessive Pay And Fat Cats : Why Employment Scholars Should Start Reflecting on Regulation of Executive Remuneration

Gaudio, Giovanni - 2020

In the aftermath of the 2007-2008 financial crisis, flawed variable pay structures of executives were blamed by many for contributing to the build-up of the global financial turmoil, as they allegedly incentivized them to engage in excessive risk-taking. Legislators around the globe decided to...

Persistent link: https://www.econbiz.de/10012824598

Non-price and Price Performance Vesting Provisions and Executive Incentives

Core, John E. - 2017

This paper examines the consequences of the increased use of performance vesting provisions in long-term incentive compensation for CEOs and other executives in the post-2006 period following FAS 123R. We re-examine the agency prediction that incentives provided by accounting or other...

Persistent link: https://www.econbiz.de/10012972293

CEO Compensation and Risk-Taking at Financial Firms : Evidence from U.S. Federal Loan Assistance

Gande, Amar - 2017

, CEO overconfidence, or matching of CEOs to select banks. We conclude that equity incentives (vega) embedded in CEO …

Persistent link: https://www.econbiz.de/10012975959

Payday Before Mayday : CEO Compensation Contracting for Distressed Firms

Carter, Mary Ellen - 2020

realignment of managers with relevant stakeholders of distressed firms …

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

Firm Performance Implications of Using Qualitative Criteria in CEO Bonus Contracts

Feng, Nancy Chun - 2020

Many argue that the design of compensation contracts for public company chief executive officers (CEOs) is often not guided by a goal of value maximization. Yet, there is limited direct empirical evidence on the negative consequences of the proposed inefficient contracting between shareholders...

Persistent link: https://www.econbiz.de/10012853379

CEO Pay Gap and Bank Risk-taking

DeYoung, Robert - 2019

The large compensation received by bank executives is among the many factors blamed for the risk-taking that led to the 2008-2009 financial crisis. We test whether and how pay disparities between CEO and non-CEO executives—the so-called CEO pay gap—influenced risk taking at publicly traded...

Persistent link: https://www.econbiz.de/10012858941

Phantom Menace : Role of Pseudo Peers in CEO Compensation

Kalpathy, Swaminathan L. - 2019

We study pay spillovers within the network of peer compensation benchmarking and show that these can reconcile growth differences and convergence in CEO compensation. Specifically, compensation of a small group of prominent, highly-central network firms is shown to have a substantial spillover...

Persistent link: https://www.econbiz.de/10012860019

Do Stock Options Overcome Managerial Risk Aversion? Evidence from Exercises of Executive Stock Options

Heron, Randall A. - 2016

We report that the probability that executives exercise options early decreases with the volatility of the underlying stock return. We interpret this to mean that executives' subjective option value increases with volatility and that option grants increase executives' risk appetite. Further...

Persistent link: https://www.econbiz.de/10012986793

The Relation between Public Managers’ Compensation and Governance

Coccia, Mario - 2018

senior managers. However, the institutional factors associated with high levels of compensation of public managers are hardly … known. In particular, studies about the possible relation between factors of governance and compensation of public managers … insights for general reforms of governance aimed to support equitably levels of compensation of public managers and efficiency …

Persistent link: https://www.econbiz.de/10012924133

Learning about the Details in CEO Compensation

Hu, Shuting (Sophia) - 2018

I document the richness of CEO compensation packages and show that boards learn about the desirability of the many complex package features through observing how these features are associated with firm performance. I first capture the detailed features of plan-based awards for CEOs of the...

Persistent link: https://www.econbiz.de/10012932128