The Other Side of the Trade-off: The Impact of Risk on Executive Compensation
Author
Abstract
(This abstract was borrowed from another version of this item.)
Suggested Citation
DOI: 10.1086/250051
Download full text from publisher
As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.
Other versions of this item:
- Rajesh Aggarwal & Andrew A. Samwick, 1998. "The Other Side of the Tradeoff: The Impact of Risk on Executive Compensation," NBER Working Papers 6634, National Bureau of Economic Research, Inc.
References listed on IDEAS
- Barro, Jason R & Barro, Robert J, 1990.
"Pay, Performance, and Turnover of Bank CEOs,"
Journal of Labor Economics, University of Chicago Press, vol. 8(4), pages 448-481, October.
- Jason R. Barro & Robert J. Barro, 1990. "Pay, Performance, and Turnover of Bank CEOs," NBER Working Papers 3262, National Bureau of Economic Research, Inc.
- Barro, Jason R. & Barro, Robert J., 1990. "Pay, Performance, and Turnover of Bank CEOs," Scholarly Articles 3451300, Harvard University Department of Economics.
- Shleifer, Andrei & Vishny, Robert W, 1997.
"A Survey of Corporate Governance,"
Journal of Finance, American Finance Association, vol. 52(2), pages 737-783, June.
- Andrei Shleifer & Robert W. Vishny, 1995. "A Survey of Corporate Governance," Harvard Institute of Economic Research Working Papers 1741, Harvard - Institute of Economic Research.
- Shleifer, Andrei & Vishny, Robert W., 1997. "A Survey of Corporate Governance," Scholarly Articles 30728046, Harvard University Department of Economics.
- Andrei Shleifer & Robert W. Vishny, 1996. "A Survey of Corporate Governance," NBER Working Papers 5554, National Bureau of Economic Research, Inc.
- Moshe Buchinsky, 1998. "Recent Advances in Quantile Regression Models: A Practical Guideline for Empirical Research," Journal of Human Resources, University of Wisconsin Press, vol. 33(1), pages 88-126.
- Robert Gibbons & Kevin J. Murphy, 1990.
"Relative Performance Evaluation for Chief Executive Officers,"
ILR Review, Cornell University, ILR School, vol. 43(3), pages 30, April.
- Robert Gibbons & Kevin J. Murphy, 1989. "Relative Performance Evaluation for Chief Executive Officers," Working Papers 628, Princeton University, Department of Economics, Industrial Relations Section..
- Robert Gibbons & Kevin J. Murphy, 1989. "Relative Performance Evaluation for Chief Executive Officers," NBER Working Papers 2944, National Bureau of Economic Research, Inc.
- Gibbons, R. & Murphy, K.J., 1989. "Relative Performance Evaluation For Chief Executive Officers," Working papers 532, Massachusetts Institute of Technology (MIT), Department of Economics.
- Bengt Holmstrom, 1982.
"Moral Hazard in Teams,"
Bell Journal of Economics, The RAND Corporation, vol. 13(2), pages 324-340, Autumn.
- Bengt Holmstrom, 1981. "Moral Hazard in Teams," Discussion Papers 471, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Brian J. Hall & Jeffrey B. Liebman, 1998.
"Are CEOs Really Paid Like Bureaucrats?,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 113(3), pages 653-691.
- Brian J. Hall & Jeffrey B. Liebman, 1997. "Are CEOs Really Paid Like Bureaucrats?," NBER Working Papers 6213, National Bureau of Economic Research, Inc.
- Holmstrom, Bengt & Milgrom, Paul, 1987.
"Aggregation and Linearity in the Provision of Intertemporal Incentives,"
Econometrica, Econometric Society, vol. 55(2), pages 303-328, March.
- Bengt Holmstrom & Paul R. Milgrom, 1985. "Aggregation and Linearity in the Provision of Intertemporal Incentives," Cowles Foundation Discussion Papers 742, Cowles Foundation for Research in Economics, Yale University.
- Koenker, Roger & Bassett, Gilbert, Jr, 1982. "Robust Tests for Heteroscedasticity Based on Regression Quantiles," Econometrica, Econometric Society, vol. 50(1), pages 43-61, January.
- Antle, R & Smith, A, 1986. "An Empirical-Investigation Of The Relative Performance Evaluation Of Corporate-Executives," Journal of Accounting Research, Wiley Blackwell, vol. 24(1), pages 1-39.
- Janakiraman, Sn & Lambert, Ra & Larcker, Df, 1992. "An Empirical-Investigation Of The Relative Performance Evaluation Hypothesis," Journal of Accounting Research, Wiley Blackwell, vol. 30(1), pages 53-69.
- Bengt Holmstrom, 1979.
"Moral Hazard and Observability,"
Bell Journal of Economics, The RAND Corporation, vol. 10(1), pages 74-91, Spring.
- Bengt Holmstrom, 1997. "Moral Hazard and Observability," Levine's Working Paper Archive 1205, David K. Levine.
- Haubrich, Joseph G, 1994.
"Risk Aversion, Performance Pay, and the Principal-Agent Problem,"
Journal of Political Economy, University of Chicago Press, vol. 102(2), pages 258-276, April.
- Joseph G. Haubrich, 1991. "Risk aversion, performance pay, and the principal-agent problem," Working Papers (Old Series) 9118, Federal Reserve Bank of Cleveland.
- William Gould, 1993. "Quantile regression with bootstrapped standard errors," Stata Technical Bulletin, StataCorp LP, vol. 2(9).
- Lambert, Ra & Larcker, Df, 1987. "An Analysis Of The Use Of Accounting And Market Measures Of Performance In Executive-Compensation Contracts," Journal of Accounting Research, Wiley Blackwell, vol. 25, pages 85-129.
- Brian J. Hall & Jeffrey B. Liebman, 1997. "Are CEOs Paid Like Bureaucrats?," Harvard Institute of Economic Research Working Papers 1789, Harvard - Institute of Economic Research.
- Dwight R. Lee & Richard B. McKenzie, 1987. "Analysis," Challenge, Taylor & Francis Journals, vol. 30(4), pages 55-56, July.
- Garen, John E, 1994. "Executive Compensation and Principal-Agent Theory," Journal of Political Economy, University of Chicago Press, vol. 102(6), pages 1175-1199, December.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Bushman, Robert M. & Smith, Abbie J., 2001. "Financial accounting information and corporate governance," Journal of Accounting and Economics, Elsevier, vol. 32(1-3), pages 237-333, December.
- repec:eee:labchp:v:3:y:1999:i:pb:p:2485-2563 is not listed on IDEAS
- An, Suwei, 2023. "Essays on incentive contracts, M&As, and firm risk," Other publications TiSEM dd97d2f5-1c9d-47c5-ba62-f, Tilburg University, School of Economics and Management.
- Alex Edmans & Xavier Gabaix, 2016.
"Executive Compensation: A Modern Primer,"
Journal of Economic Literature, American Economic Association, vol. 54(4), pages 1232-1287, December.
- Gabaix, Xavier & Edmans, Alex, 2015. "Executive Compensation: A Modern Primer," CEPR Discussion Papers 10566, C.E.P.R. Discussion Papers.
- Edmans, Alex & Gabaix, Xavier, 2016. "Executive Compensation: A Modern Primer," Scholarly Articles 34651704, Harvard University Department of Economics.
- Alex Edmans & Xavier Gabaix, 2015. "Executive Compensation: A Modern Primer," NBER Working Papers 21131, National Bureau of Economic Research, Inc.
- Albuquerque, Ana, 2009. "Peer firms in relative performance evaluation," Journal of Accounting and Economics, Elsevier, vol. 48(1), pages 69-89, October.
- Canice Prendergast, 1999. "The Provision of Incentives in Firms," Journal of Economic Literature, American Economic Association, vol. 37(1), pages 7-63, March.
- Johnson, Shane A. & Tian, Yisong S., 2000. "Indexed executive stock options," Journal of Financial Economics, Elsevier, vol. 57(1), pages 35-64, July.
- repec:eee:labchp:v:3:y:1999:i:pb:p:2373-2437 is not listed on IDEAS
- Miguel Antón & Florian Ederer & Mireia Giné & Martin Schmalz, 2023.
"Common Ownership, Competition, and Top Management Incentives,"
Journal of Political Economy, University of Chicago Press, vol. 131(5), pages 1294-1355.
- Miguel Anton & Florian Ederer & Mireia Gine & Martin Schmalz, 2016. "Common Ownership, Competition, and Top Management Incentives," Cowles Foundation Discussion Papers 2046R, Cowles Foundation for Research in Economics, Yale University, revised Oct 2017.
- Miguel Anton & Florian Ederer & Mireia Gine & Martin C. Schmalz, 2022. "Common Ownership, Competition, and Top Management Incentives," NBER Working Papers 30785, National Bureau of Economic Research, Inc.
- Schmalz, Martin & Ederer, Florian & Gine, Mireia & Antón, Miguel, 2018. "Common Ownership, Competition, and Top Management Incentives," CEPR Discussion Papers 12674, C.E.P.R. Discussion Papers.
- Miguel Antón & Florian Ederer & Mireia Giné & Martin C. Schmalz, 2016. "Common Ownership, Competition, and Top Management Incentives," CESifo Working Paper Series 6178, CESifo.
- Miguel Anton & Florian Ederer & Mireia Gine & Martin Schmalz, 2016. "Common Ownership, Competition, and Top Management Incentives," Cowles Foundation Discussion Papers 2046, Cowles Foundation for Research in Economics, Yale University.
- Carola Frydman & Dirk Jenter, 2010.
"CEO Compensation,"
Annual Review of Financial Economics, Annual Reviews, vol. 2(1), pages 75-102, December.
- Carola Frydman & Dirk Jenter, 2010. "CEO Compensation," NBER Working Papers 16585, National Bureau of Economic Research, Inc.
- Carola Frydman & Dirk Jenter, 2010. "CEO Compensation," CESifo Working Paper Series 3277, CESifo.
- Frydman, Carola & Jenter, Dirk, 2010. "CEO Compensation," Research Papers 2069, Stanford University, Graduate School of Business.
- Ili, Dragan & Pisarov, Sonja & Schmidt, Peter S., 2015. "Preaching Water But Drinking Wine? Relative Performance Evaluation in International Banking," Working papers 2015/10, Faculty of Business and Economics - University of Basel.
- Dragan Ilić & Sonja Pisarov & Peter S. Schmidt, 2015. "Preaching water but drinking wine? Relative performance evaluation in international banking," ECON - Working Papers 208, Department of Economics - University of Zurich, revised Aug 2016.
- Dragan Ilić & Sonja Pisarov & Peter S. Schmidt, 2019. "Preaching water but drinking wine? Relative performance evaluation in international banking," Swiss Journal of Economics and Statistics, Springer;Swiss Society of Economics and Statistics, vol. 155(1), pages 1-25, December.
- Brunello, Giorgio & Graziano, Clara & Parigi, Bruno, 2001. "Executive compensation and firm performance in Italy," International Journal of Industrial Organization, Elsevier, vol. 19(1-2), pages 133-161, January.
- Page, T. Beau, 2018. "CEO attributes, compensation, and firm value: Evidence from a structural estimation," Journal of Financial Economics, Elsevier, vol. 128(2), pages 378-401.
- Rajesh K. Aggarwal & Andrew A. Samwick, 1999.
"Executive Compensation, Strategic Competition, and Relative Performance Evaluation: Theory and Evidence,"
Journal of Finance, American Finance Association, vol. 54(6), pages 1999-2043, December.
- Rajesh Aggarwal & Andrew A. Samwick, 1996. "Executive Compensation, Strategic Competition, and Relative Performance Evaluation: Theory and Evidence," NBER Working Papers 5648, National Bureau of Economic Research, Inc.
- Taye Mengistae & Lixin Colin Xu, 2004. "Agency Theory and Executive Compensation: The Case of Chinese State-Owned Enterprises," Journal of Labor Economics, University of Chicago Press, vol. 22(3), pages 615-638, July.
- John M. Abowd & David S. Kaplan, 1999.
"Executive Compensation: Six Questions That Need Answering,"
Journal of Economic Perspectives, American Economic Association, vol. 13(4), pages 145-168, Fall.
- John M. Abowd & David S. Kaplan, 1999. "Executive Compensation: Six Questions that Need Answering," NBER Working Papers 7124, National Bureau of Economic Research, Inc.
- Stanimir Morfov & Manuel Santos, 2017. "A Model of Managerial Talent: Addressing Some Puzzles in CEO Compensation," Working Papers 2017-03, University of Miami, Department of Economics.
- Dirk Jenter & Fadi Kanaan, 2015.
"CEO Turnover and Relative Performance Evaluation,"
Journal of Finance, American Finance Association, vol. 70(5), pages 2155-2184, October.
- Dirk Jenter & Fadi Kanaan, 2006. "CEO Turnover and Relative Performance Evaluation," NBER Working Papers 12068, National Bureau of Economic Research, Inc.
- Jenter, Dirk & Kanaan, Fadi, 2015. "CEO turnover and relative performance evaluation," LSE Research Online Documents on Economics 64421, London School of Economics and Political Science, LSE Library.
- Jenter, Dirk & Kanaan, Fadi, 2008. "CEO Turnover and Relative Performance Evaluation," Research Papers 1992, Stanford University, Graduate School of Business.
- Aggarwal, Rajesh K. & Samwick, Andrew A., 2006.
"Empire-builders and shirkers: Investment, firm performance, and managerial incentives,"
Journal of Corporate Finance, Elsevier, vol. 12(3), pages 489-515, June.
- Rajesh K. Aggarwal & Andrew A. Samwick, 1999. "Empire-Builders and Shirkers: Investment, Firm Performance, and Managerial Incentives," NBER Working Papers 7335, National Bureau of Economic Research, Inc.
- John M. Abowd & Felipe Balmaceda & David Kaplan., "undated". "Accounting Profits, Market Profits, and the Compensation of Regular Employees," ILADES-UAH Working Papers inv119, Universidad Alberto Hurtado/School of Economics and Business.
More about this item
JEL classification:
- G30 - Financial Economics - - Corporate Finance and Governance - - - General
- J33 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Compensation Packages; Payment Methods
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ucp:jpolec:v:107:y:1999:i:1:p:65-105. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Journals Division (email available below). General contact details of provider: https://www.journals.uchicago.edu/JPE .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.