Performance-based pay : sharing prosperity and misery.
This paper discusses the risk transfer effect and wealth transfer effect of three types of firm-wide cash performance-based pay plans - the incentive pay plan, the pay-at-risk plan, and the pure misery-sharing plan. The valuation models for each type of performance-based pay plan are developed to qu...
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| Format: | Research Report |
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2008
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| Online Access: | http://hdl.handle.net/10356/7040 |