effect on the quality of new inventions. Further analysis reveals that the positive association between managerial incentives … between managerial incentives and patent quality only holds among firms with high ownership concentration and SOEs. The … entirety of these results suggests that managerial incentives are a net-negative for the innovative output of firms with high …

In this updated Closer Look, we examine the tensions between corporate culture, financial incentives, and employee … do you maximize the positive contribution that incentives make to culture while minimizing potentially negative outcomes …

endogeneity, we find that boards have set the incentive to incur risk (vega) to maximize shareholder value, but that incentives to …

. This paper develop a model suggesting that employee ownership policy reveals management quality. Good managers would use … employee ownership as a reward management tool whereas bad managers would implement it for entrenchment motives. We bring about … three main conclusions: (i) Bad managers use employee ownership as an entrenchment mechanism. (ii) This latter phenomenon …

link between financial stability and the risk-taking incentives embedded in the executive compensation contracts at banks …

model suggesting that employee ownership policy reveals management quality. Good managers would use employee ownership as a … reward management tool whereas bad managers would implement it for entrenchment motives. We bring about three main … conclusions: (i) Bad managers use employee ownership as an entrenchment mechanism. (ii) This latter phenomenon increases the cost …

further examines the link between pay and performance by examining the impact of promotion-based tournament incentives. Our … empirical analysis therefore seeks to better understand the determinants of tournament incentives, particularly surrounding the … appointment of a new CEO. Further, we test whether firm performance is influenced by the magnitude of tournament incentives. Our …

A long-standing controversy is whether CEO employment contracts insulate inferior managers from discipline leading to …, long-term equity incentives, accelerated stock and option vesting provisions in severance arrangement, and more refined …

complex than other tools for managing risk, such as covenants or simply cutting back on option pay, and gives managers … also show that increasing pay complexity is likely to reduce the efficacy of all forms of manager incentives. To test these …