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Persistent link: https://www.econbiz.de/10001521485
provision of marginal incentives, and applies the theory to explain variation in the form of compensation of over-the-road truck … of hauls in a way that is consistent with the theory. By contrast, we find that vehicle ownership, which defines a driver …
Persistent link: https://www.econbiz.de/10013212570
prices to these fluctuations. These facts are analyzed within the framework of a multiproduct oligopoly model with product …
Persistent link: https://www.econbiz.de/10013246653
The negative income tax proposed by Milton Friedman represents one of the fundamental ideas of modern welfare policy. However, the academic literature has raised two difficulties with it, one challenging its purported work incentives and the other suggesting the possible superiority of work...
Persistent link: https://www.econbiz.de/10013246045
We analyze a large-scale survey of owners, managers, and employees of small businesses in the United States to …
Persistent link: https://www.econbiz.de/10012830234
This paper develops a simple equilibrium model of CEO pay. CEOs have different talents and are matched to firms in a competitive assignment model. In market equilibrium, a CEO%u2019s pay changes one for one with aggregate firm size, while changing much less with the size of his own firm. The...
Persistent link: https://www.econbiz.de/10012779748
We examine how an increase in stock option grants affects CEO risk-taking. The overall net effect of option grants is theoretically ambiguous for risk-averse CEOs. To overcome the endogeneity of option grants, we exploit institutional features of multi-year compensation plans, which generate two...
Persistent link: https://www.econbiz.de/10012902373
control markets (i.e., where interstate banking is permitted) require talented managers whose levels of compensation are … higher. We also find that the compensation-performance relationship is stronger than for managers in markets where interstate …
Persistent link: https://www.econbiz.de/10013125319
-country differences in the levels of private benefits obtained by corporate managers, as well as the country-specific factors associated … discuss the circumstances under which managers would choose to cross-list their stocks in the United States, when such a cross …-listing has important implications for managers' private benefits. Finally, we survey recent empirical work that tests empirical …
Persistent link: https://www.econbiz.de/10012752689
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