executives, are associated with a higher level of patent quantity and quality, innovation efficiency, and patent importance and …

Traditional finance theory suggests that riskier investments should yield higher returns. Challenging this notion …, anecdotal and empirical evidence suggests that highly-incented managers may take on excessive risk, leading to greater losses … compensation (“vega”), presumed to increase managers' appetite for risk, uniformly yield higher returns on R&D investment. Our …

The informativeness principle demonstrates that a contract should depend on informative signals. This paper studies how …

Research suggests that restricted labor mobility discourages managers from investing in human capital and reduces firm … value. However, whether firms re-incentivize managers to mitigate its adverse effects remains unexplored. We find that after … the adoption of the inevitable disclosure doctrine (an exogenous negative shock to managers' mobility), firms convexify …

viewing managers as common agents of several types of investors can better capture the reality of corporate relationships …, where incentive problems can arise both vertically - between each investor type and the managers - and horizontally - among … making the undertaking of value-decreasing projects costly for managers and investors alike, conversion and/or redemption …

their managers. Increases in managerial reservation wages lead to a reduction in corporate governance investments and a rise … in performance compensation since monitoring managers becomes less efficient. Using data on CEO compensation and …

their managers. Increases in managerial reservation wages lead to a reduction in corporate governance investments and a rise … in performance compensation since monitoring managers becomes less efficient. Using data on CEO compensation and …