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Risk, managerial effort, and project choice

Citations

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Cited by:

  1. García, Diego, 2014. "Optimal contracts with privately informed agents and active principals," Journal of Corporate Finance, Elsevier, vol. 29(C), pages 695-709.
  2. Hornstein, Abigail S., 2013. "Corporate capital budgeting and CEO turnover," Journal of Corporate Finance, Elsevier, vol. 20(C), pages 41-58.
  3. Tan, Chunzhi & He, Chengying & Shi, Zhanzhong & Mo, Guoli & Geng, Xiaoxu, 2022. "How does CEO demission threat affect corporate risk-taking?," Journal of Business Research, Elsevier, vol. 139(C), pages 935-944.
  4. Muurling, Rutger & Lehnert, Thorsten, 2004. "Option-based compensation: a survey," The International Journal of Accounting, Elsevier, vol. 39(4), pages 365-401.
  5. Thakor, Anjan V., 1993. "Information, Investment Horizon, and Price Reactions," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 28(4), pages 459-482, December.
  6. Xin Qu & Majella Percy & Fang Hu & Jenny Stewart, 2022. "Can CEO equity‐based compensation limit investment‐related agency problems?," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 62(2), pages 2579-2614, June.
  7. Bliss, Richard T. & Rosen, Richard J., 2001. "CEO compensation and bank mergers," Journal of Financial Economics, Elsevier, vol. 61(1), pages 107-138, July.
  8. Bing Han & David Hirshleifer & John C. Persons, 2009. "Promotion Tournaments and Capital Rationing," The Review of Financial Studies, Society for Financial Studies, vol. 22(1), pages 219-255, January.
  9. Frédéric Loss & Antoine Renucci, 2021. "Promotions, managerial project choice, and implementation effort," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 30(4), pages 799-819, November.
  10. Maretno Harjoto & Indrarini Laksmana, 2018. "The Impact of Corporate Social Responsibility on Risk Taking and Firm Value," Journal of Business Ethics, Springer, vol. 151(2), pages 353-373, August.
  11. Chang, Xin & Fu, Kangkang & Low, Angie & Zhang, Wenrui, 2015. "Non-executive employee stock options and corporate innovation," Journal of Financial Economics, Elsevier, vol. 115(1), pages 168-188.
  12. Dasgupta, Sudipto & Titman, Sheridan, 1998. "Pricing Strategy and Financial Policy," The Review of Financial Studies, Society for Financial Studies, vol. 11(4), pages 705-737.
  13. Shujahat Haider Hashmi & Munawar Hussain & Raja Muhammad Ahsan Ilyas & Muhammad Asif Khan, 2017. "Sensitivity analysis for the determinants of investment appraisal," The Audit Financiar journal, Chamber of Financial Auditors of Romania, vol. 15(148), pages 686-686.
  14. Rajgopal, Shivaram & Shevlin, Terry, 2002. "Empirical evidence on the relation between stock option compensation and risk taking," Journal of Accounting and Economics, Elsevier, vol. 33(2), pages 145-171, June.
  15. Scott M Gilpatric, 2009. "Risk Taking In Contests And The Role Of Carrots And Sticks," Economic Inquiry, Western Economic Association International, vol. 47(2), pages 266-277, April.
  16. Ang, James S. & Lauterbach, Beni & Schreiber, Ben Z., 2001. "Internal monitoring, regulation, and compensation of top executives in banks," International Review of Economics & Finance, Elsevier, vol. 10(4), pages 325-335, December.
  17. Hamza Bahaji, 2011. "Incentives from stock option grants: a behavioral approach," Post-Print halshs-00681607, HAL.
  18. Hamza Bahaji, 2011. "Incentives from stock option grants: a behavioral approach," Post-Print halshs-00681611, HAL.
  19. Cassell, Cory A. & Huang, Shawn X. & Manuel Sanchez, Juan & Stuart, Michael D., 2012. "Seeking safety: The relation between CEO inside debt holdings and the riskiness of firm investment and financial policies," Journal of Financial Economics, Elsevier, vol. 103(3), pages 588-610.
  20. Al-Faryan, Mamdouh Abdulaziz Saleh, 2021. "The Effect of Board Composition and Managerial Pay on Saudi Firm Performance," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, issue Online fi.
  21. Nohel, Tom & Todd, Steven, 2005. "Compensation for managers with career concerns: the role of stock options in optimal contracts," Journal of Corporate Finance, Elsevier, vol. 11(1-2), pages 229-251, March.
  22. Yang, Tianna & Hou, Wenxuan, 2016. "Pay-performance sensitivity and risk-taking behaviors: Evidence from closed-end funds," Emerging Markets Review, Elsevier, vol. 29(C), pages 274-288.
  23. Harris, Milton & Raviv, Artur, 1998. "Capital budgeting and delegation," Journal of Financial Economics, Elsevier, vol. 50(3), pages 259-289, December.
  24. Josh Lerner & Julie Wulf, 2007. "Innovation and Incentives: Evidence from Corporate R&D," The Review of Economics and Statistics, MIT Press, vol. 89(4), pages 634-644, November.
  25. Low, Angie, 2009. "Managerial risk-taking behavior and equity-based compensation," Journal of Financial Economics, Elsevier, vol. 92(3), pages 470-490, June.
  26. Han, Feng & Qin, Qi & Peabody, S. Drew, 2022. "Does incentive conflict between CEOs and CFOs benefit firms? Implications for corporate decision-making," Research in International Business and Finance, Elsevier, vol. 63(C).
  27. Jaeyoung Sung, 2022. "Optimal contracting under mean-volatility joint ambiguity uncertainties," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 74(2), pages 593-642, September.
  28. Huang, Ying Sophie & Li, Mengyu, 2019. "Are overconfident executives alike? overconfident executives and compensation structure: Evidence from China," The North American Journal of Economics and Finance, Elsevier, vol. 48(C), pages 434-449.
  29. Geronikolaou, George & Papachristou, George, 2016. "Investor competition and project risk in Venture Capital investments," Economics Letters, Elsevier, vol. 141(C), pages 67-69.
  30. George Geronikolaou, 2022. "Passive syndicates and risk in venture capital investments," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 43(6), pages 2033-2037, September.
  31. Choonsik Lee & Heungju Park, 2016. "Financial constraints, board governance standards, and corporate cash holdings," Review of Financial Economics, John Wiley & Sons, vol. 28(1), pages 21-34, January.
  32. Mehran, Hamid, 1995. "Executive compensation structure, ownership, and firm performance," Journal of Financial Economics, Elsevier, vol. 38(2), pages 163-184, June.
  33. Anna Dodonova, 2022. "Risk Aversion, Managerial Reputation, and Debt–Equity Conflict," Games, MDPI, vol. 13(2), pages 1-10, March.
  34. Chaigneau, Pierre, 2013. "Risk-shifting and the regulation of bank CEOs’ compensation," Journal of Financial Stability, Elsevier, vol. 9(4), pages 778-789.
  35. Caterina Di Tommaso & John Thornton, 2020. "Do ESG scores effect bank risk taking and value? Evidence from European banks," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(5), pages 2286-2298, September.
  36. Ren, Siewan & Wright, Anna & Wyatt, Anne, 2012. "Stock option use by Australian IPOs," Journal of Contemporary Accounting and Economics, Elsevier, vol. 8(1), pages 1-22.
  37. Loyola, Gino & Portilla, Yolanda, 2014. "Reward for failure and executive compensation in institutional investors," Finance Research Letters, Elsevier, vol. 11(4), pages 349-361.
  38. Yenn-Ru Chen & Carl R. Chen & Chih-Kang Chu, 2014. "The Effect of Executive Stock Options on Corporate Innovative Activities," Financial Management, Financial Management Association International, vol. 43(2), pages 271-290, June.
  39. Jeffrey (Jun) Chen & Yun Guan & Ivy Tang, 2020. "Optimal Contracting of Pension Incentive: Evidence of Currency Risk Management in Multinational Companies," JRFM, MDPI, vol. 13(2), pages 1-29, February.
  40. Danlu Bu & Homayoon Shalchian, 2017. "Risk-based Performance, Nature of Property and Executive’s Steady Compensation: Evidence from Chinese Corporations," Accounting and Finance Research, Sciedu Press, vol. 6(1), pages 1-57, February.
  41. Ingolf Dittmann & Ko-Chia Yu & Dan Zhang, 2017. "How Important Are Risk-Taking Incentives in Executive Compensation?," Review of Finance, European Finance Association, vol. 21(5), pages 1805-1846.
  42. Jason L. Brown & Patrick R. Martin & Geoffrey B. Sprinkle & Dan Way, 2023. "How Return on Investment and Residual Income Performance Measures and Risk Preferences Affect Risk-Taking," Management Science, INFORMS, vol. 69(2), pages 1301-1322, February.
  43. Lorenzo Casavecchia & Ja Young Suh, 2017. "Managerial incentives for risk-taking and internal capital allocation," Australian Journal of Management, Australian School of Business, vol. 42(3), pages 428-461, August.
  44. Kim, E. Han & Lu, Yao, 2011. "CEO ownership, external governance, and risk-taking," Journal of Financial Economics, Elsevier, vol. 102(2), pages 272-292.
  45. Cook, Douglas O. & Chowdhury, Jaideep & Zhang, Weiwei, 2023. "Director optimism and CEO equity compensation," Journal of Empirical Finance, Elsevier, vol. 72(C), pages 143-162.
  46. Ming-Yuan Chen, 2010. "Managerial compensation and R&D investments: the role of the external managerial labour market," International Review of Applied Economics, Taylor & Francis Journals, vol. 24(5), pages 553-572.
  47. Andreas Roider, 2009. "Delegation, Risk, and Project Scope," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 165(2), pages 193-209, June.
  48. Jed De Varo & Suraj Prasad, 2015. "The Relationship between Delegation and Incentives Across Occupations: Evidence and Theory," Journal of Industrial Economics, Wiley Blackwell, vol. 63(2), pages 279-312, June.
  49. Yacine Belghitar & Ephraim A. Clark, 2012. "The Effect of CEO Risk Appetite on Firm Volatility: An Empirical Analysis of Financial Firms☆," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 19(2), pages 195-211, July.
  50. Biggerstaff, Lee & Blank, Brian & Goldie, Brad, 2019. "Do incentives work? Option-based compensation and corporate innovation," Journal of Corporate Finance, Elsevier, vol. 58(C), pages 415-430.
  51. Óscar Gutiérrez & Vicente Salas-Fumás, 2014. "Options in Agency with Binary Uncertainty," Manchester School, University of Manchester, vol. 82(2), pages 218-236, March.
  52. Oindrila Dey & Swapnendu Banerjee, 2022. "Incentives, Status and Thereafter: A Critical Survey," South Asian Journal of Macroeconomics and Public Finance, , vol. 11(1), pages 95-115, June.
  53. Bornemann, Tobias, 2018. "Do transfer pricing rules distort R&D investment decisions?," arqus Discussion Papers in Quantitative Tax Research 233, arqus - Arbeitskreis Quantitative Steuerlehre.
  54. Gormley, Todd A. & Matsa, David A. & Milbourn, Todd, 2013. "CEO compensation and corporate risk: Evidence from a natural experiment," Journal of Accounting and Economics, Elsevier, vol. 56(2), pages 79-101.
  55. Huiqi Gan, 2019. "Does CEO managerial ability matter? Evidence from corporate investment efficiency," Review of Quantitative Finance and Accounting, Springer, vol. 52(4), pages 1085-1118, May.
  56. Humphery-Jenner, Mark, 2012. "The impact of the EU takeover directive on takeover performance and empire building," Journal of Corporate Finance, Elsevier, vol. 18(2), pages 254-272.
  57. Michael S. Gibson, 1998. "The implications of risk management information systems for the organization of financial firms," International Finance Discussion Papers 632, Board of Governors of the Federal Reserve System (U.S.).
  58. Thakor, Anjan V. & Furlong Wilson, Patricia, 1995. "Capital requirements, loan renegotiation and the borrower's choice of financing source," Journal of Banking & Finance, Elsevier, vol. 19(3-4), pages 693-711, June.
  59. Roger Blair & Perihan Saygin, 2021. "Uncertainty and the marginal revenue product–wage gap," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 42(3), pages 564-569, April.
  60. Dasgupta, Sudipto & Shin, Jhinyoung, 2004. "Managerial risk-taking incentives, product market competition and welfare," European Economic Review, Elsevier, vol. 48(2), pages 391-401, April.
  61. David Hillier & Patrick McColgan & Athanasios Tsekeris, 2022. "How did the Sarbanes–Oxley Act affect managerial incentives? Evidence from corporate acquisitions," Review of Quantitative Finance and Accounting, Springer, vol. 58(4), pages 1395-1450, May.
  62. Sebastian Gryglewicz & Barney Hartman-Glaser & Geoffery Zheng, 2020. "Growth Options, Incentives, and Pay for Performance: Theory and Evidence," Management Science, INFORMS, vol. 66(3), pages 1248-1277, March.
  63. Pukthuanthong, Kuntara & Roll, Richard & Walker, Thomas, 2007. "How employee stock options and executive equity ownership affect long-term IPO operating performance," Journal of Corporate Finance, Elsevier, vol. 13(5), pages 695-720, December.
  64. Yaowen Shan & Terry Walter, 2016. "Towards a Set of Design Principles for Executive Compensation Contracts," Abacus, Accounting Foundation, University of Sydney, vol. 52(4), pages 619-684, December.
  65. Doyoung Kim, 2010. "The use of stock-based pay for sorting: an empirical analysis of compensation for new CEOs," Applied Economics, Taylor & Francis Journals, vol. 42(23), pages 2999-3010.
  66. Gormley, Todd A. & Matsa, David A., 2016. "Playing it safe? Managerial preferences, risk, and agency conflicts," Journal of Financial Economics, Elsevier, vol. 122(3), pages 431-455.
  67. Andreas Charitou & Christodoulos Louca, 2017. "Why Do Canadian Firms Cross-list? The Flip Side of the Issue," Abacus, Accounting Foundation, University of Sydney, vol. 53(2), pages 211-239, June.
  68. Barron, John M. & Waddell, Glen R., 2008. "Work hard, not smart: Stock options in executive compensation," Journal of Economic Behavior & Organization, Elsevier, vol. 66(3-4), pages 767-790, June.
  69. repec:eee:labchp:v:3:y:1999:i:pb:p:2485-2563 is not listed on IDEAS
  70. repec:oup:rfinst:v:21:y:2017:i:5:p:1805-1846. is not listed on IDEAS
  71. Ju, Nengjiu & Leland, Hayne & Senbet, Lemma W., 2014. "Options, option repricing in managerial compensation: Their effects on corporate investment risk," Journal of Corporate Finance, Elsevier, vol. 29(C), pages 628-643.
  72. Melissa A. Williams & Ramesh P. Rao, 2006. "CEO Stock Options and Equity Risk Incentives," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 33(1‐2), pages 26-44, January.
  73. Hanlon, Michelle & Rajgopal, Shivaram & Shevlin, Terry, 2003. "Are executive stock options associated with future earnings?," Journal of Accounting and Economics, Elsevier, vol. 36(1-3), pages 3-43, December.
  74. Lee, Choonsik & Park, Heungju, 2016. "Financial constraints, board governance standards, and corporate cash holdings," Review of Financial Economics, Elsevier, vol. 28(C), pages 21-34.
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