incentives to keep executives incentivized after the loss of valuable outside employment options. Consistent with this argument … (pay gap) tournament incentives, hence provide novel evidence on a new executive pay gap determinant …

This paper examines the effects of promotion-based tournament incentives for non-CEO executives on corporate innovation …. We find that firms with greater tournament incentives, which are measured as the pay gap between the CEO and other … tournament incentives. The attraction of talent and the reduction in excessive board interventions appear two plausible …

This paper examines the relation between tournament incentives and reserve management. We find a positive relation … between internal tournament incentives and reserve errors, implying that a larger pay gap as a tournament prize induces vice … profitability. In addition, we find the impact of internal tournament incentives on the reserve error is more pronounced for larger …

incentives -- information and effort are substitutes -- offsetting the standard effect that improved information lowers the cost …

agent than stocks in the presence of ambiguity. In addition, we show that providing the agent with more incentives would … induce the agent to perceive a higher risk, and there is a discontinuous jump in the compensation cost as incentives increase …

We provide new evidence that equity incentives can have perverse effects on firm value. Conditioning the relationship … between chief executive officer (CEO) incentives and the risk exposure generated by corporate policy decisions on how risk is … avoid risk, the incentive effect of delta partially offsets risk aversion. We show that while CEO incentives affect …