We test whether increasing cash-on-hand raises the productivity of poor workers. Our motivation is psychological. Concerns about money can create mental burdens such as worry, stress, or sadness. These in turn could interfere with the ability to work effectively. We empirically test for this...

We survey directors and investors on the objectives, constraints, and determinants of CEO pay. 67% of directors would sacrifice shareholder value to avoid controversy on CEO pay, implying they face significant constraints other than participation and incentive compatibility. These constraints...

We survey directors and investors on the objectives, constraints, and determinants of CEO pay. 67% of directors would sacrifice shareholder value to avoid controversy on CEO pay, implying they face significant constraints other than participation and incentive compatibility. These constraints...

We examine the impact of compensation committee members’ (CC members’) age on CEO compensation using FTSE 350 firms for the period 2002 to 2017. Sociological theory suggests that age is a significant demographic factor influencing individuals’ behaviour. We argue that monitoring intensity...

We examine a general equilibrium dynamic economy in which each firm i) hires a manager who can divert cash flows and ii) can fire him after poor performance, generating costs to both parties.The contract is terminated when the manager's continuation value reaches his compensation at another firm...

Incentive schemes that reward participants based on their relative performance are often thought to be particularly risk-inducing. Using a novel, real-effort task experiment in the laboratory, we find that the relationship between incentives and risk-taking is more nuanced and depends critically...

My goal is to construct a compensation program for victims of gun violence. If the victim was killed or suffered serious injury through a negligent or intentional shooting, the survivor recovers stepped compensation. The claimant files a request for compensation with the new Second Amendment...

This paper examines the CEO compensation gap between gender and the female CEOs’ risk preference for incentive. Previous studies argue that women in upper positions receive lower compensation and incentive than men due to their risk-averse tendency. Meanwhile, the literature suggests no...