VARIABILITY IN CASHFLOWS AND RETURNS AND CEO PAY
VARIABILITY IN CASHFLOWS AND RETURNS AND CEO PAY
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New Rochelle: The Journal of Theoretical Accounting Research
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Language
English
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New Rochelle: The Journal of Theoretical Accounting Research
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Contents
I use a version of the principal-agent model to examine how closely empirical CEO compensation hews to agency theoretic predictions. Assuming a risk averse manager, and an asymptotically risk neutral principal, the Bolton and Dewatripont (2005) model prescribes that the principal should shift compensation more toward cash as volatility in returns i...
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VARIABILITY IN CASHFLOWS AND RETURNS AND CEO PAY
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TN_cdi_proquest_journals_2554668680
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https://devfeature-collection.sl.nsw.gov.au/record/TN_cdi_proquest_journals_2554668680
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ISSN
1556-5106
