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A note on CEO compensation, elimination tournaments and bankruptcy risk

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Author Info

  • Guido Friebel

    ()

  • Alexander Matros

    ()

Abstract

We investigate an economy in which firms have different risks to go bankrupt. We observe two things: first, workers in firms with higher bankruptcy risk (bad firms) always work less than workers in good firms. Second, the CEOs of bad firms may nonetheless receive larger wages. Copyright Springer-Verlag Berlin/Heidelberg 2005

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File URL: http://hdl.handle.net/10.1007/s10101-005-0104-3
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Bibliographic Info

Article provided by Springer in its journal Economics of Governance.

Volume (Year): 6 (2005)
Issue (Month): 2 (07)
Pages: 105-111

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Handle: RePEc:spr:ecogov:v:6:y:2005:i:2:p:105-111

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Web page: http://link.springer.de/link/service/journals/10101/index.htm

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Web: http://link.springer.de/orders.htm

Related research

Keywords: Tournaments; agency; incentives; compensation;

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Cited by:
  1. Berardi, Nicoletta & Seabright, Paul, 2011. "Professional Network and Career Coevolution," TSE Working Papers 11-258, Toulouse School of Economics (TSE).
  2. Soiliou Namoro & Timothy Mathews, 2006. "Participation Incentives in Rank Order Tournaments with Endogenous Entry," Working Papers 250, University of Pittsburgh, Department of Economics, revised Feb 2008.
  3. Soiliou Namoro, 2008. "The Impact of Organizer Market Structure on Participant Entry Behavior in a Multi-Tournament Environment," Working Papers 373, University of Pittsburgh, Department of Economics, revised Nov 2008.

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