The debate about the compensation of executives and directors is a discussion about incentives and agency costs. This article analyzes basic tools to reduce agency costs and also assesses the ongoing debate about the future regulation of the compensation of executives and directors. It draws...

This Article examines what lessons may be learned from examining how Australia, the United Kingdom, and the United States have tried to manage the shift away from defined benefit plans towards defined contribution plans. This shift has fundamentally changed the relationship between workers and...

Baker (2002) has demonstrated theoretically that the quality of performance measures used in compensation contracts hinges on two characteristics: noise and distortion. These criteria, though, will only be useful in practice as long as the noise and distortion of a performance measure can be...

We study effects of a firm's attempt to optimize an existing incentive scheme to increase sales growth for direct store delivery workers. Before optimization workers reported Ratchet Effects that lowered productivity. The altered incentive plan offered higher compensation for increased sales...

The wage policy of a German and a U.S. firm is comparatively analysed with a focus on the relation between wages and hierarchies. While prior studies examine only one particular firm, in this paper two plants of the same owners with similar production processes in different institutional...

This paper contributes to the literature by indicating how the effect of monetary policies, such as interest rates, the zero lower bound (ZLB) and differential volatility between long-term and short-term interest rates, impact the incentives of firms' managers in the US in recent years and how...

This M.A. dissertation presents a study of the influence of financial distress on CEO compensation in the United States. It focuses on the four main components of executive compensation: salary, bonus, restricted stock and stock options. More specifically, I apply linear regression to panel data...

This paper measures the degree of sorting by skill in the U.S. labor market for senior managers. I utilize both wage data and a comprehensive dataset that contains education information on 10,517 executives. I present evidence of a high degree of within-firm positive sorting: better managers are...