Executive compensation based on asset values
This paper describes how credit default swaps could be employed to create performance based executive compensation portfolios that reflect the value of a firm's debt as well as equity; i.e. the total value of all a firm's assets. We define so-called Asset Value Unit (AVU) compensation portfolios that work both for executive- and non-executive pay schemes in financial as well as non-financial firms.
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Volume (Year): 32 (2012)
Issue (Month): 2 ()
Pages: 1504-1508
| Handle: | RePEc:ebl:ecbull:eb-12-00074 |
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References listed on IDEAS
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- Patrick Bolton & Hamid Mehran & Joel Shapiro, 2015.
"Executive Compensation and Risk Taking,"
Review of Finance,
European Finance Association, vol. 19(6), pages 2139-2181.
- Patrick Bolton & Hamid Mehran & Joel Shapiro, 2010. "Executive compensation and risk taking," Staff Reports 456, Federal Reserve Bank of New York.
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