CEO Compensation and Corporate Risk: Evidence from a Natural Experiment

No abstract is available for this paper.

• Publication year

  2013

• Venue

  Journal of Accounting and Economics

• Publication date

  2013-08-19

• Fields of study

  Business, Economics

• Identifiers
  DOI 10.1016/J.JACCECO.2013.08.001
• External record

  Open on Semantic Scholar

• Source metadata

  Semantic Scholar

• No claims are published for this paper.

• No concepts are published for this paper.

• Common Errors: How to (and Not to) Control for Unobserved Heterogeneity

  2014cited by this paper
• Managerial Attitudes and Corporate Actions

  2013influential reference
• Swinging for the Fences: Executive Reactions to Quasi-Random Option Grants⇤

  2013cited by this paper
• Corporate Governance Reform and Executive Incentives: Implications for Investments and Risk Taking

  2013cited by this paper
• Stock Options and Managerial Incentives for Risk-Taking: Evidence from FAS 123R

  2012influential reference
• Executive Stock Options, Differential Risk-Taking Incentives, and Firm Value

  2012influential reference
• Financial Strength and Product Market Competition: Evidence from Asbestos Litigation

  2011cited by this paper
• Negative Hedging: Performance Sensitive Debt and CEOs' Equity Incentives

  2011cited by this paper
• Growing Out of Trouble? Corporate Responses to Liability Risk

  2011influential reference
• The Effect of Risk on the CEO Market

  2011cited by this paper
• Preliminary Draft : Please do not quote without permission Managers Who Lack Style : Evidence from Exogenous CEO Changes C

  2010cited by this paper
• Very preliminary and incomplete Please do not cite or circulate Comments welcome "Do CEOs matter?" *

  2010cited by this paper
• CEOs versus CFOs: Incentives and corporate policies

  2010influential reference
• Rethinking Compensation in Financial Firms

  2009cited by this paper
• A Multiplicative Model of Optimal CEO Incentives in Market Equilibrium

  2009cited by this paper
• Mostly Harmless Econometrics: An Empiricist's Companion

  2008cited by this paper
• Stocks or Options? Moral Hazard, Firm Viability, and the Design of Compensation Contracts

  2008cited by this paper
• Corporate control and real investment in incomplete markets

  2007cited by this paper
• Piercing the Corporate Veil

  2007cited by this paper
• Firm Value and Managerial Incentives: A Stochastic Frontier Approach

  2006cited by this paper
• Wealth and Executive Compensation

  2006cited by this paper
• Do CEOs Matter

  2006cited by this paper
• Managerial Incentives and Risk-taking

  2006cited by this paper
• Asbestos Litigation Costs and Compensation

  2005cited by this paper
• Compensation, Incentives, and the Duality of Risk Aversion and Riskiness

  2004cited by this paper
• Asbestos and the future of mass torts.

  2004cited by this paper
• Firms' Voluntary Recognition of Stock-Based Compensation Expense

  2003cited by this paper
• The Volatility and Price Sensitivities of Managerial Stock Option Portfolios and Corporate Hedging

  2002cited by this paper
• Empirical Evidence on the Relation Between Stock Option Compensation and Risk Taking

  2002cited by this paper
• Does Executive Portfolio Structure Affect Risk Management? CEO Risk-taking Incentives and Corporate Derivatives Usage

  2002cited by this paper
• Do Conglomerate Firms Allocate Resources Inefficiently Across Industries? Theory and Evidence

  2002cited by this paper
• The Endogeneity of Managerial Compensation in Firm Valuation: A Solution

  2001cited by this paper
• Understanding the determinants of managerial ownership and the link between ownership and performance: comment

  2001cited by this paper
• Does Option Compensation Increase Managerial Risk Appetite

  2000influential reference
• Theory of the Firm : Managerial Behavior , Agency Costs and Ownership Structure

  2000cited by this paper
• Managerial Incentive Problems: A Dynamic Perspective

  1999cited by this paper
• The Use of Equity Grants to Manage Optimal Equity Incentive Levels

  1999influential reference
• The sensitivity of CEO wealth to equity risk: an analysis of the magnitude and determinants ☆

  1999influential reference
• Why Do Firms Merge and Then Divest? A Theory of Financial Synergy

  1999cited by this paper
• The Other Side of the Tradeoff: The Impact of Risk on Executive Compensation - A Reply

  1998cited by this paper
• Estimating the Value of Employee Stock Option Portfolios and Their Sensitivities to Price and Volatility

  1998influential reference
• Stock Repurchases and Incentive Compensation

  1998cited by this paper
• Hedging and Coordinated Risk Management: Evidence from Thrift Conversions

  1998cited by this paper
• Managerial Entrenchment and Capital Structure Decisions

  1997cited by this paper
• Agency Problems, Equity Ownership, and Corporate Diversification

  1997cited by this paper
• A case study of organizational form and risk shifting in the savings and loan industry

  1997cited by this paper
• Organizational form and risk taking in the savings and loan industry

  1997cited by this paper
• Industry costs of equity

  1997cited by this paper
• Asset redeployment, acquisitions and corporate strategy in declining industries

  1997cited by this paper
• Who Manages Risk? An Empirical Examination of Risk Management Practices in the Gold Mining Industry

  1996cited by this paper
• Executive compensation structure, ownership, and firm performance

  1995cited by this paper
• Diversification's effect on firm value

  1995cited by this paper
• Incentives, Downsizing, and Value Creation at General Dynamics

  1995cited by this paper
• Do Managerial Motives Influence Firm Risk Reduction Strategies

  1995cited by this paper
• Do Corporations Award CEO Stock Options Effectively

  1995influential reference
• Additional evidence on the association between the investment opportunity set and corporate

  1993cited by this paper
• Tobin's q, Corporate Diversification, and Firm Performance

  1993cited by this paper
• Stock-based incentive compensation and investment behavior

  1993cited by this paper
• Risk, managerial effort, and project choice

  1992cited by this paper
• Risk Management: Coordinating Corporate Investment and Financing Policies

  1992cited by this paper
• The Investment Opportunity Set and Corporate Financing, Dividend, and Compensation Policies

  1992cited by this paper
• Executive Incentive Plans, Corporate Control, and Capital Structure

  1992cited by this paper
• Piercing the Corporate Veil: An Empirical Study

  1991cited by this paper
• Capital Structure and the Market for Corporate Control: The Defensive Role of Debt Financing

  1991cited by this paper
• PORTFOLIO CONSIDERATIONS IN VALUING EXECUTIVE-COMPENSATION

  1991influential reference
• The Liability Insurance Market

  1991cited by this paper
• Performance Pay and Top-Management Incentives

  1990cited by this paper
• Do Taxes Affect Corporate Financing Decisions

  1990cited by this paper
• Liability and Large-Scale, Long-Term Hazards

  1990cited by this paper
• The Effect of Executive Stock Option Plans on Stockholders and Bondholders

  1990cited by this paper
• Ownership Structure, Deregulation, and Bank Risk Taking

  1990cited by this paper
• Management turnover and financial distress

  1989cited by this paper
• Financing Constraints and Corporate Investment

  1988cited by this paper
• Managerial Incentives and Corporate Investment and Financing Decisions

  1987cited by this paper
• AGGREGATION AND LINEARITY IN THE PROVISION OF INTERTEMPORAL INCENTIVES

  1987cited by this paper
• Organizational Capital: The Path to Higher Productivity and Well-Being

  1987cited by this paper
• Products Liability, Corporate Structure, and Bankruptcy: Toxic Substances and the Remote Risk Relationship

  1985cited by this paper
• The Determinants of Firms' Hedging Policies

  1985cited by this paper
• The Structure of Corporate Ownership: Causes and Consequences

  1985cited by this paper
• Corporate Financial Structure and Managerial Incentives

  1983cited by this paper
• Resolving the Agency Problems of External Capital through Options

  1981cited by this paper
• Risk Reduction as a Managerial Motive for Conglomerate Mergers

  1981cited by this paper
• Determinants of corporate borrowing

  1977influential reference
• Theory of the Firm

  1976influential reference
• An Analysis of the Black Lung Compensation Program

  1974cited by this paper
• Theory of the Firm

  1966cited by this paper
• The law of corporations

  1960cited by this paper
• Department of Labor

  1941cited by this paper

• Merger and acquisition prediction based on deep learning with attention mechanism

  2026cites this paper
• Impact of CEO perceived dominance on corporate financial performance: an empirical study based on facial feature extraction via deep learning

  2026cites this paper
• CEOs’ Early-Life Disaster Experiences and Corporate Hedging Activities

  2026cites this paper
• The hidden toll: The impact of segment asset disclosure cessation on analyst forecast properties

  2026cites this paper
• Regulatory Arbitrage, Greenwashing and Environmental Impacts: Evidence From China's Green Bond Market

  2026cites this paper
• Reduced Opportunities for Cartel Collusion and CEO Equity Incentives: Evidence From the Passage of Foreign Leniency Laws

  2025cites this paper
• Organization Capital and Labor Investment Efficiency

  2025cites this paper
• Risk attitude homophily and bank loan contracting

  2025cites this paper
• Board dynamics and risk management: co-option and its influence on liquidity risk in Australia and New Zealand banks

  2025cites this paper
• Supply chain concentration and corporate OFDI risk-taking

  2025cites this paper
• Managerial Ability and Audit Outcomes

  2025cites this paper
• Does external labour market activeness affect agency problem?

  2025cites this paper
• Executive compensation stickiness, social trust and enterprise innovation

  2025cites this paper
• Agent-Agent Conflict: Outside Directors and Co-CEOs in Family Firms

  2025cites this paper
• Redefining the partnership: A study on non‐equity partners

  2025cites this paper
• Creditor control rights and executive bonus plans

  2025cites this paper
• Does Corporate Policy Risk Affect Stock Liquidity? Panel Data Evidence from Listed Companies in a Major Emerging Market

  2025cites this paper
• Legal liability risk and CEO compensation

  2025cites this paper
• SEC Scrutiny and Corporate Risk-Taking

  2025cites this paper
• The impact of executives’ compensation and education on bankruptcy risk in Chinese firms

  2025cites this paper
• Expanding innovation boundary: the moderating role of platform ecological embeddedness

  2025cites this paper
• The Impact of Executive Equity Incentives on Corporate Digital Transformation: Facilitating or Inhibiting

  2025cites this paper
• Silent Suffering: Using Machine Learning to Measure CEO Depression

  2025cites this paper
• The Real Side of Black Swans: Tail Risk and Corporate Investment

  2025cites this paper
• Business environments and managers' risk appetite in emerging markets

  2025cites this paper
• Perceived corporate individualism culture and corporate bond issuing costs

  2025cites this paper
• Dynamic incentive contracts with controllable risk

  2025cites this paper
• Chair–CEO age dissimilarity and investment efficiency: evidence from China

  2025cites this paper
• Risk aversion or risk amplification? How CEO career horizons shape firm-level stock market stability

  2025cites this paper
• CEO Compensation and Adverse Shocks: Evidence from Changes in Environmental Regulations

  2024cites this paper
• CEO Incentives for Risk-Taking and Compensation Duration

  2024cites this paper
• Risk-taking incentives and risk-talking outcomes

  2024cites this paper
• Does the impact of geopolitical risk on leverage vary based on executives’ cash compensation?

  2024cites this paper
• Incentive Contracting in the Shadow of Litigation Risk: Evidence from Universal Demand Laws

  2024cites this paper
• Preference Dynamics and Risk-Taking Incentives

  2024cites this paper
• CEO compensation convexity and meeting‐or‐just‐beat earnings forecast

  2024cites this paper
• Credit information sharing and investment efficiency: Cross‐country evidence

  2024cites this paper
• Performance measure skewness and the structure of CEO compensation: Theory and evidence

  2024cites this paper
• Wrinkles of Wisdom: The Impact of CEO Aging on Abnormal Investment

  2024cites this paper
• Heterogeneity in the Integration of ESG Measures in Executive Compensation: Determinants, Contracting Details and Outcomes

  2024cites this paper
• Corporate culture and carbon emissions

  2024cites this paper
• Government spending and CEO equity incentives: Evidence from changes in U.S. Senate committee chairs

  2024cites this paper
• Environmental risk exposure and executive pay-for-performance sensitivity☆

  2023cites this paper
• Wrapped up in Cotton Wool: Does Manager’s Bankruptcy Experience Shape Corporate Hedging?

  2023cites this paper
• Enhanced management information disclosure responsibilities and corporate risk-taking––evidence from the accountability system for errors in China

  2023cites this paper
• Board characteristics and firm resilience: Evidence from disruptive events

  2023cites this paper
• Managerial Incentives for Employee Health and Safety

  2023cites this paper
• When do stock options affect CEO risk‐taking? The moderating role of CEO regulatory focus

  2023cites this paper
• Skin in the Game: Risk of Environmental Pollution and Executive Compensation Incentives

  2023cites this paper
• Stakeholder orientation and managerial incentives: Evidence from a natural experiment

  2023cites this paper
• Effect of cash flow risk on corporate failures, and the moderating role of earnings management and abnormal compensation

  2023cites this paper
• Are MBA CEOs really more risk-averse?

  2023cites this paper
• CEO employment contract heterogeneity and acquirer risk-taking

  2023cites this paper
• Does the Age of Compensation Committee Members Matter for CEO Compensation?

  2023cites this paper
• Female CEOs’ risk management and earnings performance during the financial crisis

  2023cites this paper
• Gender pay gap in American CFOs: Theory and evidence

  2023cites this paper
• ESG Performance, Institutional Investors and Corporate Risk-taking: Empirical Evidence from China

  2023cites this paper
• CFO pay convexity, risk taking and corporate hedging

  2023cites this paper
• Trick or Treat? The Effect of CEO Relative Pay on Corporate Social Irresponsibility

  2023cites this paper
• Influential independent directors' reputation incentives: Impacts on CEO compensation contracts and financial reporting

  2023cites this paper
• Segment Disaggregation and Equity-Based Pay Contracts

  2023cites this paper
• Risk management transparency and compensation

  2022cites this paper
• Foreign competition and CEO risk-incentive compensation

  2022cites this paper
• Terrorist Attacks and CEO Compensation: UK Evidence

  2022cites this paper
• Investor reactions to key audit matters: Financial and non‐financial contexts

  2022cites this paper
• Spillover effects in managerial compensation

  2022cites this paper
• The relations of corporate risk, operating efficiency, and firm size to managerial compensation: Evidence from Taiwan stock market-listed companies

  2022cites this paper
• The Effect of Taxes on CEO Performance

  2022cites this paper
• Do external labor market incentives improve labor investment efficiency?

  2022cites this paper
• A Literature Review on Stock Price Crash Risk

  2022cites this paper
• Executive compensation linked to corporate social responsibility and firm risk

  2022cites this paper
• Bringing Innovation to Fruition: Insights From New Trademarks

  2022cites this paper
• Central supervision and earnings management: Quasi-experimental evidence from China

  2022cites this paper
• Board openness and family firm internationalization: a social capital perspective

  2022cites this paper
• The Impact of Compensation Gap on Corporate Innovation: Evidence from China’s Pharmaceutical Industry

  2022cites this paper
• Why CEO option compensation can be a bad option for shareholders: Evidence from major customer relationships

  2021cites this paper
• CEOs’ International Work Experience and Compensation

  2021cites this paper
• Blockholder exit threats and corporate cash holdings

  2021cites this paper
• Organizational non-compliance with principles-based governance provisions and corporate risk-taking

  2021cites this paper
• Mandatory governance reform and corporate risk management

  2021cites this paper
• How did the Sarbanes–Oxley Act affect managerial incentives? Evidence from corporate acquisitions

  2021cites this paper
• RQ Innovative Efficiency and Firm Value

  2021cites this paper
• The impact of CEO compensation and excess reserves on bank risk-taking: the moderating role of monetary policy

  2021cites this paper
• Regulatory changes and loan loss provisions management by Chinese banks

  2021cites this paper
• Contracting with Controllable Risk

  2021cites this paper
• CEO inside debt, market structure and payout policy

  2021cites this paper
• The inevitable disclosure doctrine and CEO risk-taking incentives

  2021cites this paper
• Uncovering the Hidden Effort Problem

  2021cites this paper
• Studying the Managers' Overconfidence Effect on the Relationship between the Firm Risk and Managers' Rewards

  2021cites this paper
• Reductions in CEO career horizons and corporate policies

  2021cites this paper
• Politicians’ hometown favoritism and corporate investments: The role of social identity

  2021cites this paper
• Is there a dark side of managerial ability? Evidence from the use of derivatives and firm risk in China

  2021cites this paper
• The determinants of CEO compensation: new insights from United States

  2021cites this paper
• Organization capital and executive performance incentives

  2021cites this paper
• Executive Compensation Contracts in the Presence of Adverse Selection

  2021cites this paper
• ESG, Risk, and (Tail) Dependence

  2021influential citation
• Do co-opted directors influence corporate risk-taking and credit ratings?

  2020cites this paper
• Low interest rates and executive risk-taking incentives: Evidence from the United States

  2020influential citation
• Financial distress and the cost of labor: Evidence from a natural experiment

  2020cites this paper
• The Advisory and Monitoring Roles of the Board - Evidence from Disruptive Events

  2020cites this paper