The Relation between CEO Compensation and Past Performance

This study focuses on the relation between current compensation and past performance measures as signals of a chief executive officer's (CEO's) ability. We develop a simple two-period principal-agent model with moral hazard and adverse selection and test theoretical predictions using CEO c...

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Veröffentlicht in:	The Accounting review 2013-01, Vol.88 (1), p.1-30
Hauptverfasser:	Banker, Rajiv D., Darrough, Masako N., Huang, Rong, Plehn-Dujowich, Jose M.
Format:	Artikel
Sprache:	eng
Schlagworte:	Ability Adverse selection Bankers Bonuses Cash Chief executive officers Compensation Executive compensation Financial accounting Historically informed performance Moral hazard Morals Pay for performance Performance appraisal Performance metrics Salary Studies Unobservables Wages & salaries
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