Managerial incentives in the presence of golden handshakes
Sign Up to like & getrecommendations! Published in 2017 at "Finance Research Letters"
DOI: 10.1016/j.frl.2016.09.023
Abstract: This paper examines the effect of “golden handshakes” on managerial incentive compensation and risk-taking. Golden handshake, one on hand, increases CEO's pay-for-performance sensitivity by providing a high-powered incentive scheme. On the other hand, it also… read more here.
Keywords: incentives presence; handshakes managerial; presence golden; golden handshakes ... See more keywords
Managerial incentives for risk-taking and internal capital allocation
Sign Up to like & getrecommendations! Published in 2017 at "Australian Journal of Management"
DOI: 10.1177/0312896216652181
Abstract: In this study, we show that the option-like structure of equity-based compensation encourages managerial risk-taking and provide new evidence on the way in which CEO’s risk-taking could manifest itself in a multi-segment firm. Our results… read more here.
Keywords: capital allocation; risk; risk taking; managerial incentives ... See more keywords