Using a large sample of multinational companies (MNCs), this paper intends to explore whether executives' pension incentives will function as a mechanism of optimal contracting in motivating firm risk management. We find that granting more pension to executives is significantly related to the...

We analyze a committee decision in which individuals with common preferences are uncertain which of two alternatives is better for them. Members can acquire costly information. Private signals and information choice are both continuous. As is consistent with Down's rational ignorance hypothesis,...