Executive Compensation and Short|Termist Behaviour in ...

Executive Compensation and Short-Termist Behaviour in ...

Several questions arise concerning the use of stocks in CEO compensation contracts when stock prices may not always reflect the fundamental value of the firm.

Executive Compensation and Short-Termist Behaviour in ...

Abstract. We present a multiperiod agency model of stock-based executive compensation in a speculative stock market, where investors have heterogeneous bel.

Executive Compensation and Short-termist Behavior in Speculative ...

Executive Compensation and Short-termist Behavior in Speculative Markets ... We present a multiperiod agency model of stock based executive ...

Executive Compensation and Short-Termist Behaviour in Specul

We show that optimal compensation contracts may emphasize short-term stock performance, at the expense of long-run fundamental value, as an incentive to induce ...

Executive Compensation and Short-Termist Behavior in Speculative ...

We present a multiperiod agency model of stock based executive compensation in a speculative stock market, where investors have heterogeneous beliefs and ...

Executive Compensation and Short-Termist Behavior in Speculative ...

Short‐Termist CEO Compensation in Speculative Markets: A Controlled Experiment ... Bolton, Scheinkman, and Xiong (2006) model a setting where investors disagree ...

Executive Compensation and Short-Termist Behaviour ... - EconPapers

By Patrick Bolton, Jose Scheinkman and Wei Xiong; Abstract: We present a multiperiod agency model of stock-based executive compensation in a speculative ...

Executive Compensation and Short-Termist Behavior in Speculative ...

We present a multiperiod agency model of stock based executive compensation in a speculative stock market, where investors are overconfident ...

Executive Compensation and Short-Termist Behaviour in ...

We show that optimal compensation contracts may emphasize short-term stock performance, at the expense of long-run fundamental value, as an incentive to induce ...

Executive Compensation and Short-Termist Behaviour in ... - ebsco

Executive Compensation and Short-Termist Behaviour in Speculative Markets. · BOLTON, PATRICK; SCHEINKMAN, JOS; XIONG, WEI · Review of Economic Studies, 2006, Vol ...

Pay for Short-Term Performance: Executive Compensation in ...

6. Patrick Bolton, Jose Scheinkman & Wei Xiong, Executive Compensation and Short-Termist Behavior in Speculative Markets, (National Bureau of Econ. Research, ...

Short-termism of executive compensation - ScienceDirect.com

Together, the discrete differences in firm behaviors around a manager's retirement age suggest that firms cannot adequately compensate CEOs so as to maximize ...

Executive Compensation and Short-Termism - CSEF

I show that ineffi cient short-termism can arise in equilibrium as a self-fulfilling prophecy, due to strategic complementarities between the firm's investment ...

Executive Compensation in Speculative Markets | NBER

Pay for Short-Term Performance: Executive Compensation in Speculative Markets ... We argue that the root cause behind the recent corporate ...

Short‐Termist CEO Compensation in Speculative Markets: A ...

We document empirical support for this theory by finding that an exogenous removal (Regulation SHO) of short-sales constraints curbs the ...

Do CEOs' performance targets lead to short-termism?

"This does not necessarily mean that CEO pay is correctly set in most large firms. Indeed, one reason why there is little need for CEOs to ...

Short-Termist CEO Compensation in Speculative Markets

Consequently, existing shareholders in this model design optimal equity-based compensation contracts that encourage short-term performance, in hopes of ...

Can Executive Compensation Reform Cure Short-Termism?

To combat short-termism, several commentators have advocated executive compensation reform to encourage senior managers to adopt a longer-term perspective. Yet ...

CEO Compensation and Behavioral Insights - Boston University

The main behavioral factors encouraging short-term behavior in CEOs ... executive compensation packages may help encourage an executive's long-term success.

Investor horizon and managerial short-termism - ScienceDirect.com

Increase in long-term institutional ownership leads to longer CEO pay duration. ... The causal relation is established using indexer institutions and institution ...