Firm Diversification and CEO Compensation: Managerial Ability or Executive Entrenchment?
نویسندگان
چکیده
منابع مشابه
Executive Pay, Hidden Compensation, and Managerial Entrenchment
We consider a “managerial optimal” framework for top executive compensation, where top management sets their own compensation subject to limited entrenchment, instead of the conventional setting where such compensation is set by a board that maximizes firm value. Top management would like to pay themselves as much as possible, but are constrained by the need to ensure sufficient efficiency to a...
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ژورنال
عنوان ژورنال: The RAND Journal of Economics
سال: 1997
ISSN: 0741-6261
DOI: 10.2307/2556026