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Executive Compensation : A Survey of Theory and Evidence
Edmans, Alex - 2017
This paper reviews the theoretical and empirical literature on executive compensation. We start by presenting data on the level of CEO and other top executive pay over time and across firms, the changing composition of pay; and the strength of executive incentives. We compare pay in U.S. public...
Persistent link: https://www.econbiz.de/10012949331
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Corporate Deductibility Provisions and Managerial Incentives
Koethenbuerger, Marko - 2014
findings suggest that, when managers engage in wasteful capital expenditures, welfare may decline if the cost of investment is …
Persistent link: https://www.econbiz.de/10013060519
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Market Competition or Family Ties : Which Prevails on Italian CEOs Pay?
Graziano, Clara - 2015
The paper analyzes the interplay of product market competition and governance on CEO compensation in Italian listed firms from 2000 to 2011 and tests the impact of the 2007-08 financial crisis on pay-performance sensitivity. We argue that important differences both in the level of compensation...
Persistent link: https://www.econbiz.de/10013020525
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Learning from the Past : Trends in Executive Compensation over the Twentieth Century
Frydman, Carola - 2021
with the evolution in executive pay and the market for managers during earlier time periods. A case study of General …
Persistent link: https://www.econbiz.de/10013316448
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The Diffusion of Knowledge Via Managers' Mobility
Mion, Giordano - 2017
Better managers and managerial practices lead to better firm performance. Yet, little is known about what happens when … managers move across firms. Does a firm hiring a good manager improve its performance? If yes is there some valuable knowledge …-invariant ability of the manager as well as overall firm performance. We find that the export experience gained by managers in previous …
Persistent link: https://www.econbiz.de/10012964189
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Hidden Benefits of Reward : A Field Experiment on Motivation and Monetary Incentives
Kvaloy, Ola - 2013
We conduct a field experiment in a controlled work environment to investigate the effect of motivational talk and its interaction with monetary incentives. We find that motivational talk significantly improves performance only if it is accompanied by performance pay. Moreover, performance pay...
Persistent link: https://www.econbiz.de/10013075962
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Pay Few Subjects But Pay Them Well : Cost-Effectiveness of Random Incentive Systems
March, Christoph - 2016
Most large-scale economic experiments use a between-subjects random incentive system-BRIS-which selects a subset of the participants at random and offers real payment only to the selected participants. We evaluate the relative impact of nominal payoffs and the selection probability on the...
Persistent link: https://www.econbiz.de/10012985450
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The Effect of Incentives in Non-Routine Analytical Teams Tasks - Evidence from a Field Experiment
Englmaier, Florian - 2018
Despite the prevalence of non-routine analytical team tasks in modern economies, little is known about how incentives influence performance in these tasks. In a field experiment with more than 3000 participants, we document a positive effect of bonus incentives on the probability of completion...
Persistent link: https://www.econbiz.de/10012921301
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Asymmetric Taxation and Performance-Based Incentive Contracts
Niemann, Rainer - 2021
This paper analyzes the effects of symmetric and asymmetric taxation on performance-based versus fixed remuneration contracts. I integrate a proportional corporation tax and a proportional wage tax into a binary principal-agent model. The wage tax increases the remuneration costs and makes the...
Persistent link: https://www.econbiz.de/10013316066
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Contractual and Organizational Structure with Reciprocal Agents
Englmaier, Florian; Leider, Stephen - 2021
Empirically, compensation systems generate substantial effort despite weak monetary incentives. We consider reciprocal motivations as a source of incentives. We solve for the optimal contract in the basic principal-agent problem and show that reciprocal motivations and explicit performance-based...
Persistent link: https://www.econbiz.de/10013316554