How Does Risk Tolerance Reflected in National Culture Affect Pay-Performance Sensitivity?
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DOI: 10.2308/jiar-2021-039
Abstract: The standard principal-agent model predicts that, ceteris paribus, a negative relation exists between firm risk and CEO incentives or pay-performance sensitivity. We examine how a CEO’s risk tolerance (captured by national culture) affects pay-performance sensitivity… read more here.
Keywords: risk tolerance; performance sensitivity; risk; pay performance ... See more keywords