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How Do Quasi-Random Option Grants Affect CEO Risk-Taking?

Shue, Kelly - 2017

We examine how an increase in stock option grants affects CEO risk-taking. The overall net effect of option grants is theoretically ambiguous for risk-averse CEOs. To overcome the endogeneity of option grants, we exploit institutional features of multi- year compensation plans, which generate...

Persistent link: https://www.econbiz.de/10012974660

Corporate Governance und Unternehmenserfolg : eine empirische Analyse des Zusammenhangs zwischen den Führungs-, Kontroll- und Anreizstrukturen und der Geschäftsentwicklung deutscher Banken

Steinbrecher, Johannes - 2016

Das internationale Bankensystem stand in den vergangenen Jahren im Fokus des öffentlichen Interesses. Bei der Diskussion möglicher Optionen zur Verbesserung der Finanzsystemstabilität rückt zunehmend die Corporate Governance in Banken in den Fokus. Der vorliegende Forschungsbericht widmet...

Persistent link: https://www.econbiz.de/10011448727

Corporate Governance und Unternehmenserfolg : eine empirische Analyse des Zusammenhangs zwischen den Führungs-, Kontroll- und Anreizstrukturen und der Geschäftsentwicklung deutscher Banken

Steinbrecher, Johannes - 2016

. Moreover, the results indicate that strong incentives in capital market divisions induced excessively high risks in the capital …

Persistent link: https://www.econbiz.de/10011742813

The Long-Term Consequences of Short-Term Incentives

Edmans, Alex; Fang, Vivian W.; Huang, Allen - 2022

This paper studies the long-term consequences of actions induced by vesting equity, a measure of short-term incentives …

Persistent link: https://www.econbiz.de/10014235528

The Long-Term Consequences of Short-Term Incentives

Edmans, Alex - 2020

This paper studies the long-term consequences of actions induced by vesting equity, a measure of short-term concerns. Vesting equity is positively associated with the probability of a firm repurchasing shares, the amount of shares repurchased, and the probability of the firm announcing a merger...

Persistent link: https://www.econbiz.de/10012853747

What Explains the Rise in CEO Pay in Germany? A Panel Data Analysis for 1977-2009

Fabbri, Francesca - 2012

contributed to the rise in executive pay in Germany. Lastly, we show that CEOs in the banking sector are provided with incentives …The compensation of executive board members in Germany has become a highly controversial topic since Vodafone's hostile … unique panel data evidence of the 500 largest firms in Germany in the period 1977-2009 we test two prominent hypotheses in …

Persistent link: https://www.econbiz.de/10013108264