Industrial structure, executives' pay and myopic risk taking
This study outlines a new theory linking industrial structure to optimal employment contracts and value reducing risk taking. Firms hire their executives using optimal contracts derived within a competitive labour market. To motivate effort firms must use some variable remuneration. Such remunera...
| প্রধান লেখক: | |
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| বিন্যাস: | Working paper |
| প্রকাশিত: |
University of Oxford
2011
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