IDEAS home Printed from https://ideas.repec.org/r/eee/jaecon/v56y2013i2p79-101.html
   My bibliography  Save this item

CEO compensation and corporate risk: Evidence from a natural experiment

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as


Cited by:

  1. Breuer, Wolfgang & Ghufran, Bushra & Salzmann, Astrid Juliane, 2018. "National culture, managerial preferences, and takeover performance," International Business Review, Elsevier, vol. 27(6), pages 1270-1289.
  2. Francis, Bill B. & Hasan, Iftekhar & Hunter, Delroy M. & Zhu, Yun, 2017. "Do managerial risk-taking incentives influence firms' exchange rate exposure?," Journal of Corporate Finance, Elsevier, vol. 46(C), pages 154-169.
  3. Croci, Ettore & Petmezas, Dimitris, 2015. "Do risk-taking incentives induce CEOs to invest? Evidence from acquisitions," Journal of Corporate Finance, Elsevier, vol. 32(C), pages 1-23.
  4. Kashyap, Anil K & Kovrijnykh, Natalia & Li, Jian & Pavlova, Anna, 2021. "The benchmark inclusion subsidy," Journal of Financial Economics, Elsevier, vol. 142(2), pages 756-774.
  5. Vittoria Cerasi & Tommaso Oliviero, 2014. "Managerial compensation, regulation and risk in banks: theory and evidence from the financial crisis," Working Papers 279, University of Milano-Bicocca, Department of Economics, revised Jul 2014.
  6. Michael Mayberry, 2020. "Good for managers, bad for society? Causal evidence on the association between risk‐taking incentives and corporate social responsibility," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 47(9-10), pages 1182-1214, October.
  7. Alexander Brüggen & Jens Zehnder, 2014. "SG&A cost stickiness and equity-based executive compensation: does empire building matter?," Mathematical Methods of Operations Research, Springer;Gesellschaft für Operations Research (GOR);Nederlands Genootschap voor Besliskunde (NGB), vol. 25(3), pages 169-192, December.
  8. Jie Chen & Woon Sau Leung & Wei Song & Davide Avino, 2018. "Does CDS trading affect risk-taking incentives in managerial compensation?," Working Papers 2018-19, Swansea University, School of Management.
  9. Francis, Bill B. & Hasan, Iftekhar & Hovakimian, Gayane & Sharma, Zenu, 2023. "Gender pay gap in American CFOs: Theory and evidence," Journal of Corporate Finance, Elsevier, vol. 80(C).
  10. Dunbar, Craig & Li, Zhichuan (Frank) & Shi, Yaqi, 2020. "CEO risk-taking incentives and corporate social responsibility," Journal of Corporate Finance, Elsevier, vol. 64(C).
  11. Caporale, Guglielmo Maria & Kyriacou, Kyriacos & Spagnolo, Nicola, 2023. "Aggregate insider trading and stock market volatility in the UK," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 89(C).
  12. Jia Lu & Agyenim Boateng, 2018. "Board composition, monitoring and credit risk: evidence from the UK banking industry," Review of Quantitative Finance and Accounting, Springer, vol. 51(4), pages 1107-1128, November.
  13. Li, Xia & Gupta, Jairaj & Bu, Ziwen & Kannothra, Chacko George, 2023. "Effect of cash flow risk on corporate failures, and the moderating role of earnings management and abnormal compensation," International Review of Financial Analysis, Elsevier, vol. 89(C).
  14. Edmans, Alex & Gottlieb, Daniel & Chaigneau, Pierre, 2014. "The Value of Informativeness for Contracting," CEPR Discussion Papers 10180, C.E.P.R. Discussion Papers.
  15. Aktas, Nihat & Boone, Audra & Croci, Ettore & Signori, Andrea, 2021. "Reductions in CEO career horizons and corporate policies," Journal of Corporate Finance, Elsevier, vol. 66(C).
  16. Chaigneau, Pierre & Edmans, Alex & Gottlieb, Daniel, 2018. "Does improved information improve incentives?," Journal of Financial Economics, Elsevier, vol. 130(2), pages 291-307.
  17. Francesco Debellis & Mariateresa Torchia & Fabio Quarato & Andrea Calabrò, 2023. "Board openness and family firm internationalization: a social capital perspective," Small Business Economics, Springer, vol. 60(4), pages 1431-1448, April.
  18. Hong, Jieying, 2019. "Managerial compensation incentives and corporate debt maturity: Evidence from FAS 123R," Journal of Corporate Finance, Elsevier, vol. 56(C), pages 388-414.
  19. Yang, Tina & Zhao, Shan, 2014. "CEO duality and firm performance: Evidence from an exogenous shock to the competitive environment," Journal of Banking & Finance, Elsevier, vol. 49(C), pages 534-552.
  20. Chen, Jie & Su, Xunhua & Tian, Xuan & Xu, Bin, 2022. "Does customer-base structure influence managerial risk-taking incentives?," Journal of Financial Economics, Elsevier, vol. 143(1), pages 462-483.
  21. Kamiya, Shinichi & Kang, Jun-Koo & Kim, Jungmin & Milidonis, Andreas & Stulz, Rene M., 2018. "What Is the Impact of Successful Cyberattacks on Target Firms?," Working Paper Series 2018-04, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
  22. Romec, Arthur, 2023. "Stakeholder orientation and managerial incentives: Evidence from a natural experiment," International Review of Financial Analysis, Elsevier, vol. 88(C).
  23. Cziraki, Peter & Xu, Moqi, 2014. "CEO job security and risk-taking," LSE Research Online Documents on Economics 55909, London School of Economics and Political Science, LSE Library.
  24. Ahmed, Mohamed Shaker & Kumar, Satish, 2023. "Are MBA CEOs really more risk-averse?," International Review of Financial Analysis, Elsevier, vol. 89(C).
  25. Hien Hoang & Robyn Moroney & Soon‐Yeow Phang & Xinning Xiao, 2023. "Investor reactions to key audit matters: Financial and non‐financial contexts," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(3), pages 3325-3349, September.
  26. Ivo Schedlinsky & Friedrich Sommer & Arnt Wöhrmann, 2016. "Risk-taking in tournaments: an experimental analysis," Journal of Business Economics, Springer, vol. 86(8), pages 837-866, November.
  27. Mann, William, 2018. "Creditor rights and innovation: Evidence from patent collateral," Journal of Financial Economics, Elsevier, vol. 130(1), pages 25-47.
  28. Kusnadi, Yuanto, 2015. "Insider trading restrictions and corporate risk-taking," Pacific-Basin Finance Journal, Elsevier, vol. 35(PA), pages 125-142.
  29. Ormazabal, Gaizka & Jochem, Torsten & Rajamani, Anjana, 2020. "Why Have CEO Pay Levels Become Less Diverse?," CEPR Discussion Papers 15523, C.E.P.R. Discussion Papers.
  30. Bax, Karoline & Sahin, Özge & Czado, Claudia & Paterlini, Sandra, 2023. "ESG, risk, and (tail) dependence," International Review of Financial Analysis, Elsevier, vol. 87(C).
  31. Gao, Mingze & Leung, Henry & Qiu, Buhui, 2021. "Organization capital and executive performance incentives," Journal of Banking & Finance, Elsevier, vol. 123(C).
  32. Ellul, Andrew & WANG, Cong & Zhang, Kuo, 2016. "Labor Unemployment Risk and CEO Incentive Compensation," CEPR Discussion Papers 11634, C.E.P.R. Discussion Papers.
  33. Francis, Bill B. & Hasan, Iftekhar & Hunter, Delroy M. & Zhu, Yun, 2017. "Do managerial risk-taking incentives influence firms' exchange rate exposure?," Bank of Finland Research Discussion Papers 16/2017, Bank of Finland.
  34. Appel, Ian R. & Gormley, Todd A. & Keim, Donald B., 2016. "Passive investors, not passive owners," Journal of Financial Economics, Elsevier, vol. 121(1), pages 111-141.
  35. Balafas, Nikolaos & Florackis, Chris, 2014. "CEO compensation and future shareholder returns: Evidence from the London Stock Exchange," Journal of Empirical Finance, Elsevier, vol. 27(C), pages 97-115.
  36. 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.
  37. Steven F. Cahan & Chen Chen & Li Chen, 2017. "Social Norms and CSR Performance," Journal of Business Ethics, Springer, vol. 145(3), pages 493-508, October.
  38. Chowdhury, Hasibul & Hossain, Ashrafee & Tan, Kelvin & Zheng, Jiayi, 2022. "Do external labor market incentives improve labor investment efficiency?," Journal of Behavioral and Experimental Finance, Elsevier, vol. 34(C).
  39. Lingna Sun & Hieu V. Phan & Thuy Simpson, 2021. "Blockholder exit threats and corporate cash holdings," The Financial Review, Eastern Finance Association, vol. 56(4), pages 821-843, November.
  40. Kang, Chang-Mo & Kim, Donghyun, 2022. "Risk management transparency and compensation," Journal of Corporate Finance, Elsevier, vol. 75(C).
  41. Liu, Claire & Masulis, Ronald W. & Stanfield, Jared, 2021. "Why CEO option compensation can be a bad option for shareholders: Evidence from major customer relationships," Journal of Financial Economics, Elsevier, vol. 142(1), pages 453-481.
  42. Colonnello, Stefano, 2020. "Executive compensation, macroeconomic conditions, and cash flow cyclicality," Finance Research Letters, Elsevier, vol. 37(C).
  43. Lee, Sang Mook & Jiraporn, Pornsit & Kim, Young Sang & Park, Keun Jae, 2021. "Do co-opted directors influence corporate risk-taking and credit ratings?," The Quarterly Review of Economics and Finance, Elsevier, vol. 79(C), pages 330-344.
  44. Divya Anantharaman & Vivian W. Fang & Guojin Gong, 2014. "Inside Debt and the Design of Corporate Debt Contracts," Management Science, INFORMS, vol. 60(5), pages 1260-1280, May.
  45. Matousek, Roman & Tzeremes, Nickolaos G., 2016. "CEO compensation and bank efficiency: An application of conditional nonparametric frontiers," European Journal of Operational Research, Elsevier, vol. 251(1), pages 264-273.
  46. Kieschnick, Robert & Shi, Wenyun, 2023. "Spillover effects in managerial compensation," Journal of Empirical Finance, Elsevier, vol. 70(C), pages 62-73.
  47. Peter Cziraki & Moqi Xu, 2014. "Ceo Job Security And Risk-Taking," FMG Discussion Papers dp729, Financial Markets Group.
  48. Agyenim Boateng & Vu Hong Thai Nguyen & Min Du & Frank O. Kwabi, 2022. "The impact of CEO compensation and excess reserves on bank risk-taking: the moderating role of monetary policy," Empirical Economics, Springer, vol. 62(4), pages 1575-1598, April.
  49. Karpavičius, Sigitas & Yu, Fan, 2019. "Managerial risk incentives and a firm’s financing policy," Journal of Banking & Finance, Elsevier, vol. 100(C), pages 167-181.
  50. Ge, Yuanjing & Guo, Haifeng & Fung, Hung-Gay & Guang, Kuncheng, 2019. "CEO effects on the IPO market under different policy regimes: Evidence from the Chinese SME board," International Review of Economics & Finance, Elsevier, vol. 63(C), pages 163-175.
  51. Trey Cummings & Anne Marie Knott, 2018. "Outside CEOs and innovation," Strategic Management Journal, Wiley Blackwell, vol. 39(8), pages 2095-2119, August.
  52. Hege, Ulrich & Hutson, Elaine & Laing, Elaine, 2021. "Mandatory governance reform and corporate risk management," Journal of Corporate Finance, Elsevier, vol. 68(C).
  53. Wonjae Chang & Michael Dambra & Bryce Schonberger & Inho Suk, 2023. "Does Sensationalism Affect Executive Compensation? Evidence from Pay Ratio Disclosure Reform," Journal of Accounting Research, Wiley Blackwell, vol. 61(1), pages 187-242, March.
  54. Hsing-Hua Huang & Chia-Fan Lin, 2014. "The Relationship Between Competition and the Fraction of Firms Using Stock-Based Compensation in an Industry," Review of Pacific Basin Financial Markets and Policies (RPBFMP), World Scientific Publishing Co. Pte. Ltd., vol. 17(01), pages 1-18.
  55. J. Samuel Baixauli-Soler & Maria Belda-Ruiz & Gregorio Sanchez-Marin, 2017. "An executive hierarchy analysis of stock options: Does gender matter?," Review of Managerial Science, Springer, vol. 11(4), pages 737-766, October.
  56. Bakke, Tor-Erik & Feng, Felix Zhiyu & Mahmudi, Hamed & Zhu, Caroline H., 2022. "Foreign competition and CEO risk-incentive compensation," Journal of Corporate Finance, Elsevier, vol. 76(C).
  57. repec:zbw:bofrdp:2017_016 is not listed on IDEAS
  58. Tao Chen & Li Zhang & Qifei Zhu, 2023. "Dual Ownership and Risk-Taking Incentives in Managerial Compensation," Review of Finance, European Finance Association, vol. 27(5), pages 1823-1857.
  59. Jiraporn, Pornsit & Chatjuthamard, Pattanaporn & Tong, Shenghui & Kim, Young Sang, 2015. "Does corporate governance influence corporate risk-taking? Evidence from the Institutional Shareholders Services (ISS)," Finance Research Letters, Elsevier, vol. 13(C), pages 105-112.
  60. Jennifer Gippel & Tom Smith & Yushu Zhu, 2015. "Endogeneity in Accounting and Finance Research: Natural Experiments as a State-of-the-Art Solution," Abacus, Accounting Foundation, University of Sydney, vol. 51(2), pages 143-168, June.
  61. Nguyen, Nam H. & Phan, Hieu V. & Phan, Hung V. & Tran, Dung T.T. & Vo, Hong, 2020. "Tournament-based incentives and mergers and acquisitions," International Review of Financial Analysis, Elsevier, vol. 71(C).
  62. Huang, Wenxuan & Xu, Weidong & Gao, Xin & Li, Donghui & Fu, Wentao, 2023. "Terrorist attacks and CEO compensation: UK evidence," Research in International Business and Finance, Elsevier, vol. 64(C).
  63. Hyungshin Park & Dimitris Vrettos, 2015. "The Moderating Effect of Relative Performance Evaluation on the Risk Incentive Properties of Executives’ Equity Portfolios," Journal of Accounting Research, Wiley Blackwell, vol. 53(5), pages 1055-1108, December.
  64. 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.
  65. Ji, Mingming & Jiang, Liangliang, 2022. "Aggressive CEOs and bank mergers and acquisitions," Journal of Contemporary Accounting and Economics, Elsevier, vol. 18(3).
  66. Sungchang Kang & Jeongseok Bang & Doojin Ryu, 2024. "Female CEOs’ risk management and earnings performance during the financial crisis," Asian Business & Management, Palgrave Macmillan, vol. 23(1), pages 110-138, February.
  67. Guo, Ping & Shi, Guifeng & Tian, Gary Gang & Duan, Siqi, 2021. "Politicians’ hometown favoritism and corporate investments: The role of social identity," Journal of Banking & Finance, Elsevier, vol. 125(C).
  68. Herman Sahni & Christian Nsiah, 2018. "The Impact of Firm Financial Efficiency on Executive Compensation of United States Apparel Stores Industry: An Application of Panel Data Envelopment Analysis," International Business Research, Canadian Center of Science and Education, vol. 11(6), pages 165-184, June.
  69. Liping Fu & Shan Zhang & Fan Wu, 2022. "The Impact of Compensation Gap on Corporate Innovation: Evidence from China’s Pharmaceutical Industry," IJERPH, MDPI, vol. 19(3), pages 1-14, February.
  70. David Aboody & Shai Levi & Dan Weiss, 2018. "Managerial incentives, options, and cost-structure choices," Review of Accounting Studies, Springer, vol. 23(2), pages 422-451, June.
  71. Pat Akey & Ian Appel, 2021. "The Limits of Limited Liability: Evidence from Industrial Pollution," Journal of Finance, American Finance Association, vol. 76(1), pages 5-55, February.
  72. Ahmed Imran Hunjra & Rashid Mehmood & Tahar Tayachi, 2020. "How Do Corporate Social Responsibility and Corporate Governance Affect Stock Price Crash Risk?," JRFM, MDPI, vol. 13(2), pages 1-15, February.
  73. Cheng, Lingsha & Cheung, Adrian (Waikong), 2021. "Is there a dark side of managerial ability? Evidence from the use of derivatives and firm risk in China," Journal of Contemporary Accounting and Economics, Elsevier, vol. 17(2).
  74. Sheikh, Shahbaz, 2021. "CEO inside debt, market structure and payout policy," International Review of Financial Analysis, Elsevier, vol. 76(C).
  75. 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.
  76. Chen, Jie & Leung, Woon Sau & Song, Wei & Avino, Davide, 2023. "Does CDS trading affect risk-taking incentives in managerial compensation?," Journal of Banking & Finance, Elsevier, vol. 151(C).
  77. Randall A. Heron & Erik Lie, 2017. "Do Stock Options Overcome Managerial Risk Aversion? Evidence from Exercises of Executive Stock Options," Management Science, INFORMS, vol. 63(9), pages 3057-3071, September.
  78. Kelly Shue & Richard Townsend, 2017. "How do Quasi-Random Option Grants Affect CEO Risk-Taking?," NBER Working Papers 23091, National Bureau of Economic Research, Inc.
  79. Alderson, Michael J. & Bansal, Naresh & Betker, Brian L., 2014. "CEO turnover and the reduction of price sensitivity," Journal of Corporate Finance, Elsevier, vol. 25(C), pages 376-386.
  80. 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.
  81. Pan, Jianping & Weng, Ruoyu & Yin, Sirui & Fu, Xiaoqing (Maggie), 2022. "Central supervision and earnings management: Quasi-experimental evidence from China," The British Accounting Review, Elsevier, vol. 54(3).
  82. Nguyen, Hien T. & Phan, Hieu V. & Sun, Lingna (Selina), 2018. "Shareholder litigation rights and corporate cash holdings: Evidence from universal demand laws," Journal of Corporate Finance, Elsevier, vol. 52(C), pages 192-213.
  83. Patricia Boyallian & Pablo Ruiz-Verdú, 2018. "Leverage, CEO Risk-Taking Incentives, and Bank Failure during the 2007–10 Financial Crisis [Endogenous matching and the empirical determinants of contract form]," Review of Finance, European Finance Association, vol. 22(5), pages 1763-1805.
  84. Edmans, Alex & Jayaraman, Sudarshan & Schneemeier, Jan, 2017. "The source of information in prices and investment-price sensitivity," Journal of Financial Economics, Elsevier, vol. 126(1), pages 74-96.
  85. Ahmad, Sardar & Akbar, Saeed & Halari, Anwar & Shah, Syed Zubair, 2021. "Organizational non-compliance with principles-based governance provisions and corporate risk-taking," International Review of Financial Analysis, Elsevier, vol. 78(C).
  86. 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.
  87. Ni, Xiaoran & Zhu, Weikang, 2018. "The bright side of labor protection in emerging markets: The case of firm transparency," Pacific-Basin Finance Journal, Elsevier, vol. 50(C), pages 126-143.
  88. Karoline Bax & Ozge Sahin & Claudia Czado & Sandra Paterlini, 2021. "ESG, Risk, and (Tail) Dependence," Papers 2105.07248, arXiv.org, revised Nov 2021.
  89. Castro, Paula & Keasey, Kevin & Amor-Tapia, Borja & Tascon, Maria T. & Vallascas, Francesco, 2020. "Does debt concentration depend on the risk-taking incentives in CEO compensation?," Journal of Corporate Finance, Elsevier, vol. 64(C).
  90. Mburu, Henry Kimani & Tang, Alex P., 2018. "The adoption of voluntary clawback provisions and the broader commitment hypothesis," Advances in accounting, Elsevier, vol. 43(C), pages 60-69.
  91. Stefan Schmid & Sebastian Baldermann, 2021. "CEOs’ International Work Experience and Compensation," Management International Review, Springer, vol. 61(3), pages 313-364, June.
IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.