Results 1 to 10 of about 72,360 (43)
Persistent Overconfidence and Biased Memory: Evidence from Managers
The American Economic Review, 2022 A long-standing puzzle is how overconfidence can persist in settings characterized by repeated feedback. This paper studies managers who participate repeatedly in a high-powered tournament incentive system, learning relative performance each time.
David Huffman, Collin Raymond, J. Shvets
semanticscholar +1 more source
Wage Stagnation and the Decline of Standardized Pay Rates, 1974–1991
American Economic Journal: Applied Economics, 2023 Using new establishment-by-occupation microdata, we show that the use of discretionary wage setting significantly expanded in the 1970s and 1980s. Increasingly, wages for blue-collar workers were not standardized by job title or seniority but instead ...
Maxim Massenkoff, Nathan Wilmers
semanticscholar +1 more source
Performance Pay and Alcohol Use in Germany
Social Science Research Network, 2022 IZA DP No. 14205 MARCH 2021 Performance Pay and Alcohol Use in Germany We study the link between performance pay and alcohol use in Germany, a country with mandated health insurance.
Mehrzad B. Baktash +2 more
semanticscholar +1 more source
The Negative Consequences of Loss-Framed Performance Incentives
AEA Randomized Controlled Trials, 2020 Behavioral economists have proposed that incentive contracts result in higher productivity when bonuses are “loss framed”—prepaid then clawed back if targets are unmet. We test this claim by randomizing the pre- or postpayment of sales bonuses at 294 car
L. Pierce +2 more
semanticscholar +1 more source
Estimating Social Preferences and Gift Exchange at Work
The American Economic Review, 2016 We design three field experiments to estimate how workers' social preferences toward their employer motivates their work effort. We vary the pay rates offered to workers, the return to the employer, and employer generosity demonstrated via unexpected ...
Stefano DellaVigna +3 more
semanticscholar +1 more source
Tournament Incentives and Acquisition Performance
The Review of Corporate Finance Studies, 2020 This paper examines the impact of promotion-based tournament incentives on corporate acquisition performance. Measuring tournament incentives as the compensation ratio between the CEO and other senior executives, we show that acquirers with greater ...
I. Hasan +3 more
semanticscholar +1 more source
Business strategies and tournament incentives: Evidence from China
Business Research Quarterly, 2021 We investigate the association between business strategy and firm-level tournament incentives in China and find that business strategy is associated with tournament incentives positively.
Li Sun, Ahsan Habib, H. Huang
semanticscholar +1 more source
CEO Incentives for Risk-Taking and Compensation Duration
Accounting ReviewWhen determining new equity grants, corporate boards face a tradeoff between the CEO’s incentives generated from the grant’s duration versus those arising from the convexity of the embedded equity risk.
Thomas R. Kubick +2 more
semanticscholar +1 more source
Financial Management, 2021 We study the dynamics of two governance constructs, managerial influence over the board of directors and chief executive officer (CEO) compensation, in firms undergoing distress during 1992–2019. Data show a clear trend that governance improves over time,
Sheng Guo, Qiang Kang, Oscar A. Mitnik
semanticscholar +1 more source
CEO Overconfidence and Bonus Target Ratcheting
Accounting ReviewThis study examines the performance target response to CEO overconfidence. Using unique hand-collected data on the annual bonus targets of Standard & Poor’s (S&P) 1500 firms, we find that boards ratchet targets more aggressively and apply greater ...
Sunyoung Kim, Jongwon Park
semanticscholar +1 more source