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Market-indexed executive compensation : strictly for the young
Garvey, Gerald; Milbourn, Todd - 2001
distinguish between younger and older CEOs. Our theory is arguably less applicable to younger CEOs who have more non …
Persistent link: https://www.econbiz.de/10011566213
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Market-indexed executive compensation : why bother?
Garvey, Gerald (contributor); Milbourn, Todd (contributor) - 2000 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10001535471
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Stock price informativeness and the complexity of CEO compensation
Bennett, Benjamin; Garvey, Gerald; Milbourn, Todd; … - 2019
We study the effects of stock price informativeness (SPI) on the complexity of executive compensation. Using textual analysis of SEC proxy statements to construct measures of compensation complexity, we find informative stock prices reduce pay complexity. Using mutual fund redemption as an...
Persistent link: https://www.econbiz.de/10012104644
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Why do firms use equity-based pay? Managerial compensation and stock price informativeness
Bennett, Benjamim; Garvey, Gerald; Milbourn, Todd; … - 2019
compensation of managers switching between firms with different SPI …
Persistent link: https://www.econbiz.de/10012107682
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CEO pay and the market for CEOs
Falato, Antonio; Li, Dan; Milbourn, Todd - 2012
Persistent link: https://www.econbiz.de/10009577115
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EVA versus earnings : does it matter which is more highly correlated with stock returns?
Garvey, Gerald; Milbourn, Todd - 2000 - Current Draft: March 31, 2000
Dissatisfaction with traditional accounting-based performance measures has spawned a number of alternatives, of which Economic Value Added (EVA) is clearly the most prominent. How can we tell which performance measures best capture managerial contributions to value? There is currently a heated...
Persistent link: https://www.econbiz.de/10011560916
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The optimal and actual use of EVA versus earnings in executive compensation
Garvey, Gerald; Milbourn, Todd - 2000
Persistent link: https://www.econbiz.de/10001487347
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EVA versus earnings : does it matter which is more highly correlated with stock returns? /Gerald T. Garvey; Todd T. Milbourn
Garvey, Gerald; Milbourn, Todd - 2000
Persistent link: https://www.econbiz.de/10001455762
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Asymmetric benchmarking in compensation : executives are paid for (good) luck but not punished for bad
Garvey, Gerald (contributor); Milbourn, Todd (contributor) - 2003 - [Elektronische Ressource]
Principal-agent theory suggests that a manager should be paid relative to a benchmark that captures the effect of … market-determined return for risk-bearing. We then reformulate the argument in a more appropriate fashion. If managers can …
Persistent link: https://www.econbiz.de/10001769579
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Product market peers and relative performance evaluation
Jayaraman, Sudarshan; Milbourn, Todd; Peters, Florian; … - 2017
We investigate the role of Relative Performance Evaluation (RPE) theory in CEO pay and turnover using a product … peers. Despite the intuitive appeal of the theory, previous tests of RPE find weak and inconsistent evidence, which we argue …
Persistent link: https://www.econbiz.de/10011807920