Do external labour market incentives constrain bad news hoarding? The CEO's industry tournament and crash risk reduction
Sign Up to like & getrecommendations! Published in 2020 at "Journal of Corporate Finance"
DOI: 10.1016/j.jcorpfin.2020.101774
Abstract: Abstract We find that a CEO's industry tournament incentives (CITI) induce a CEO to undertake strategies that reduce the propensity of a firm to incur future stock price crash risk. CITI also has a mitigating… read more here.
Keywords: crash risk; industry tournament; crash; bad news ... See more keywords
Eyes on the Prize: Do Industry Tournament Incentives Shape the Structure of Executive Compensation?
Sign Up to like & getrecommendations! Published in 2021 at "Journal of Financial and Quantitative Analysis"
DOI: 10.1017/s0022109021000570
Abstract: We investigate whether external industry tournament incentives influence the design of executive compensation contracts. Using staggered negative mobility shocks as exogenous disruptions to tournament incentives, we show that firms treated by these shocks act to… read more here.
Keywords: executive compensation; industry tournament; compensation; tournament incentives ... See more keywords