FORE! An Analysis of CEO Shirking
Published Online:20 Jun 2016https://doi.org/10.1287/mnsc.2016.2452
References
- (2001) Instrumental variables and the search for identification: From supply and demand to natural experiments. J. Econom. Perspectives 15(4):69–85.Crossref, Google Scholar
- (1998) CEO incentives and firm size. NBER Working Paper 6868, National Bureau of Economic Research, Cambridge, MA.Crossref, Google Scholar
- (2003) Executive compensation as an agency problem. J. Econom. Perspectives 17(3):71–92.Crossref, Google Scholar
- (2004) Pay Without Performance (Harvard University Press, Cambridge, MA).Google Scholar
- (2009) What matters in corporate governance? Rev. Financial Stud. 22(2):783–827.Crossref, Google Scholar
- (2007) Do CEOs matter? NYU Working Paper FIN-06-032, New York University, New York.Crossref, Google Scholar
- (2012) Estimating the value of the boss: Evidence from CEO hospitalization events. Working paper, INSEAD, Fontainebleau, France.Google Scholar
- (1932) The Modern Corporation and Private Property (Transaction Publishers, Piscataway, NJ).Google Scholar
- (2005) Testing agency theory with entrepreneur effort and wealth. J. Finance 60(2):539–576.Crossref, Google Scholar
- (2014) Co-opted boards. Rev. Financial Stud. 27(6):1751–1796.Crossref, Google Scholar
- (2012) Structural models and endogeneity in corporate finance: The link between managerial ownership and corporate performance. J. Financial Econom. 103(1):149–168.Crossref, Google Scholar
- (2003a) Executive equity compensation and incentives: A survey. Econom. Policy Rev. 9(1):27–50.Google Scholar
- (2003b) Price versus non-price performance measures in optimal CEO compensation contracts. Accounting Rev. 78(4):957–981.Crossref, Google Scholar
- (1999) Corporate governance, chief executive officer compensation, and firm performance. J. Financial Econom. 51(3):371–406.Crossref, Google Scholar
- (2006) Dividend policy and the earned/contributed capital mix: A test of the life-cycle theory. J. Financial Econom. 81(2):227–254.Crossref, Google Scholar
- (1984) Two agency-cost explanations of dividends. Amer. Econom. Rev. 74(4):650–659.Google Scholar
- (2009) A multiplicative model of optimal CEO incentives in market equilibrium. Rev. Financial Stud. 22(12):4881–4917.Crossref, Google Scholar
- Equilar (2013) Executive Stock Ownership Guidelines Report. Report, Equilar, Redwood City, CA.Google Scholar
- (1980) Agency problems and the theory of the firm. J. Political Econom. 88(2):288–307.Crossref, Google Scholar
- (2008) Why has CEO pay increased so much? Quart. J. Econom. 123(1):49–100.Crossref, Google Scholar
- (1983) An analysis of the principal–agent problem. Econometrica 51(1):7–45.Crossref, Google Scholar
- (1994) Risk aversion, performance pay, and the principal–agent problem. J. Political Econom. 102(2):258–276.Crossref, Google Scholar
- (1991) The effects of board composition and direct incentives on firm performance. Financial Management 20(4):101–112.Crossref, Google Scholar
- (1998) Endogenously chosen boards of directors and their monitoring of the CEO. Amer. Econom. Rev. 88(1):96–118.Google Scholar
- (1979) Moral hazard and observability. Bell J. Econom. 10(1):74–91.Crossref, Google Scholar
- (1982) Managerial incentive problems—A dynamic perspective. Essays in Honor of Lars Wahlbeck (Swedish School of Economics, Helsinki).Google Scholar
- (1986) Agency costs of free cash flow, corporate finance, and takeovers. Amer. Econom. Rev. 76(2):323–329.Google Scholar
- (1976) Theory of the firm: Managerial behavior, agency costs and ownership structure. J. Financial Econom. 3(4):305–360.Crossref, Google Scholar
- (1990) Performance pay and top management incentives. J. Political Econom. 98(2):225–264.Crossref, Google Scholar
- (2007) Bear CEO’s handling of crisis raises issues. Wall Street Journal (November 1), http://www.wsj.com/articles/SB119387369474078336.Google Scholar
- (2009) Superstar CEOs. Quart. J. Econom. 124(4):1593–1638.Crossref, Google Scholar
- (1990) Additional evidence on equity ownership and corporate value. J. Financial Econom. 27(2):595–612.Crossref, Google Scholar
- (1988) Management ownership and market valuation: An empirical analysis. J. Financial Econom. 20(1–2):293–315.Crossref, Google Scholar
- (2003) Stock-based pay in new economy firms. J. Accounting Econom. 34(1–3):129–147.Crossref, Google Scholar
- (2015) Learning about CEO ability and stock return volatility. Rev. Financial Stud. 28(6):1623–1666.Crossref, Google Scholar
- (2004) Saving Capitalism from the Capitalists (Princeton University Press, Princeton, NJ).Google Scholar
- (1997) A survey of corporate governance. J. Finance 52(2):737–783.Crossref, Google Scholar
- (1937) The Wealth of Nations, Cannan ed. (Modern Library, New York).Google Scholar
- (1992) The investment opportunity set and corporate financing, dividend, and compensation policies. J. Financial Econom. 32(3):263–292.Crossref, Google Scholar
- (2002) A survey of weak instruments and weak identification in generalized method of moments. J. Bus. Econom. Statist. 20(4):518–529.Crossref, Google Scholar
- (1988) Managerial control of voting rights: Financing policies and the market for corporate control. J. Financial Econom. 20:25–54.Crossref, Google Scholar
- (1988) Outside directors and CEO turnover. J. Financial Econom. 20:431–460.Crossref, Google Scholar
- (1997) Good timing: CEO stock option awards and company news announcements. J. Finance 52(2):449–476.Crossref, Google Scholar
- (2006) Flights of fancy: Corporate jets, CEO perquisites, and inferior shareholder returns. J. Financial Econom. 80(1):211–242.Crossref, Google Scholar
- (2014) Tailspotting: Identifying and profiting from CEO vacation trips. J. Financial Econom. 113(2):252–269.Crossref, Google Scholar
- (1998) Corporate governance. Newman P, ed. The New Palgrave Dictionary of Economics and the Law (Macmillan, New York).Crossref, Google Scholar

