Active agents, passive principals: does high-powered CEO compensation really improve incentives?
In this paper we use agency theory to study the active role of the CEO in the formulation of corporate strategy. We allow the agent (CEO) to play a role in defining the parameters of the agency problem, in an incomplete contracting model in which the agent can be rewarded based only on financial per...
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| Format: | workingPaper |
| Language: | eng |
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2022
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| Online Access: | http://hdl.handle.net/10400.5/24407 |
| Country: | Portugal |
| Oai: | oai:www.repository.utl.pt:10400.5/24407 |