[...]We also concentrate our survey on literature that testseconomic hypotheses within samples of U.S. firms. However,we believe that much of our discussion can be generalized tofirms throughout the world. Bushman and Smith (2003)present a broad overview of how differences in...

Although stock options are commonly observed in chief executive o±cer (CEO) compensation contracts, there is theoretical controversy about whether stock options are part of the optimal contract. Using a sample of Fortune 500 companies, we solve an agency model calibrated to the company-specific...

Corporate Governance Matters A Closer Look at Organizational Choices and Their Consequences David Larcker Brian Tayan Contents Preface ...