The managerial pay-performance nexus is more accurately described by defining compensation as a discounted annuity occurring over the life of a contract. A unique NCAA football setting enables us to observe a coach's entire professional history, as well as all contract compensation components....

Options, often issued to the underwriter of unit IPOs, provide an interesting application of exotic option valuation. These options, which are generally for a unit or bundle of share(s) and warrant(s), are usually redeemable so that the underwriter option on the unit represents an up and out...

Limiting executive compensation through a salary cap has emerged as one of the latest global governance initiatives. We investigate the effectiveness of a form of an executive salary cap system and find that only firms with a high level of effective external monitors set their salary cap...