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article is to describe alternative adjustment reactions. In this context the repricing of executive stock options under …
Persistent link: https://www.econbiz.de/10010348190
of firms have repriced previously granted stock options downward. While many authors argue that downward repricing is … essential to intentivize executives and to retain valuable managers, repricing also creates a potential disincentive to … the underlying factors that determine the repricing decision, and less research has been addressing the consequences from …
Persistent link: https://www.econbiz.de/10009429057
Morse <italic>et al.</italic> (2011), henceforth MNS, interpret the data to suggest that more powerful CEOs <italic>ex post</italic> change their incentive contracts to put greater weight on performance measures that are ex-post more favorable. My paper points out a number of issues with their inference. First and most...
Persistent link: https://www.econbiz.de/10010990867
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This paper links the old literature on employment subsidies with the current theories of contract and regulation. One important source of inefficiency of employment subsidies is deadweight spending. This refers to the cases in which private firms receive a subsidy for employment creation that...
Persistent link: https://www.econbiz.de/10004985306
Criticism of contract theory has always played an important role in Hartmut Kliemt's writings on political philosophy. Notwithstanding his objections to a consent-based justification of the state he has never subscribed to an anarchist position. In Hartmut Kliemt's view, a minimal state which...
Persistent link: https://www.econbiz.de/10008457264
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The main purpose of this paper is to examine two commonly used alternatives to traditional repricing (TR) of executive …
Persistent link: https://www.econbiz.de/10008863011
support for the view that repricing primarily reflects managerial entrenchment or ineffective governance in firms. …
Persistent link: https://www.econbiz.de/10005587191
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