Dynamic Incentive Accounts

remainder in cash. The account features state-dependent rebalancing and time-dependent vesting. It is constantly rebalanced so that the equity fraction remains above a certain threshold; this threshold sensitivity is typically increasing over time even in the absence of career concerns. The account vests gradually both during the CEO's employment and after he quits, to deter short-termist actions before retirement.

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Year of publication:	2010
Authors:	Sannikov, Yuliy ; Gabaix, Xavier ; Sadzik, Tomasz ; Edmans, Alex
Institutions:	Society for Economic Dynamics - SED

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Series:	2010 Meeting Papers.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series 2010 SED Meeting Papers Number 1207
Source:	RePEc - Research Papers in Economics

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