The Road to Riches: CEO Incentives and Firm Performance
作者： Gavin Smith , Peter L. Swan
DOI: 10.2139/SSRN.1089968
关键词:
摘要: CEO flow incentives, both stock options and bonuses, are positively related to measures of firm market valuation operating performance suggesting incentives an important mechanism align interests with shareholders. These findings robust alternative performance. They also persistent across various estimation techniques such as pooled OLS clustered standard errors, random effects, fixed effects after accounting for potential endogeneity between compensation well heterogeneity. Providing CEOs increased equity bonus is the "road riches" owners a firm.
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