Managerial incentives and strategic choices of firms with different ownership structures
作者： Shantanu Banerjee , Swarnodeep Homroy
DOI: 10.1016/J.JCORPFIN.2017.10.001
关键词:
摘要: Abstract We examine how ownership structure affects managerial incentive alignment mechanisms and strategic objectives. compare large Indian firms with dispersed equity business-group affiliates operating within the same institutional frameworks. find that performance sensitivity of CEO pay turnover differ significantly across group stand-alone firms. The choices also in response to incentives. However, we that, regardless those differences, firm is similar for both types Overall, this paper suggests incentives can adjust optimize performance.
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