Fershtman, Chaim (contributor); Hvide, Hans K. (contributor) - 2002 - [Elektronische Ressource]
positively on the wages of other managers,
the firm can insure the manager against ’status shocks’ that stems from the … variability of
other managers’ wage.
To study the impact of status concerns on managerial compensation, we use a simple
principal … agent framework in which firms consist of one risk averse manager (the CEO)
and a risk neutral principal. The manager’s …