Manipulation and equity-based compensation

American Economic Review

Volumn 98, Issue 2, 2008, Pages 285-290

  Peng, Lin ^a   Röell, Ailsa ^b  

^a CITY UNIVERSITY OF NEW YORK   (United States)

^b Och Spine at New York Presbyterian Hospitals   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 44949218413     PISSN: 00028282     EISSN: None     Source Type: Journal    
DOI: 10.1257/aer.98.2.285     Document Type: Conference Paper

References (13)

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3. Bolton, Patrick, José Scheinkman, and Wei Xiong. 2005. "Executive Compensation and Short-Termist Behaviour in Speculative Markets." Review of Economic Studies, 73(3): 577-610.
4. Burns, Natasha, and Simi Kedia. 2006. "The Impact of Performance-Based Compensation on Misreporting." Journal of Financial Economics, 79(1): 35-67.
5. Dittmann, Ingolf, and Ernst Maug. 2007. "Lower Salaries and No Options? On the Optimal Structure of Executive Pay." Journal of Finance, 62(1): 303-43.
6. Fischer, Paul E., and Robert E. Verrecchia. 2000. "Reporting Bias." The Accounting Review. 75(2): 229-45.
7. Goldman, Eitan, and Steve L. Slezak. 2006. "An Equilibrium Model of Incentive Contracts in the Presence of Information Manipulation." Journal of Financial Economics, 80(3): 603-26.
8. Holmström, Bengt, and Jean Tirole. 1993. "Market Liquidity and Performance Monitoring." Journal of Political Economy, 101(4): 678-709.
9. Jensen, Michael C., and Kevin J. Murphy. 1990. "Performance Pay and Top-Management Incentives." Journal of Political Economy, 98(2): 225-64.
10. Murphy, Kevin J. 1999. "Executive Compensation." In Handbook of Labor Economics Volume 3b, ed. Orley C. Ashenfelter and David Card, 2485-2563. Amsterdam: Elsevier.
11. Peng, Lin, and Ailsa Röell. 2007. "Managerial Incentives and Stock Price Manipulation." Unpublished.
12. Peng, Lin, and Ailsa Röell. Forthcoming. "Executive Pay and Shareholder Litigation." Review of Finance.
13. Stein, Jeremy C. 1989. "Efficient Capital Markets, Inefficient Firms: a Model of Myopic Corporate Behavior." Quarterly Journal of Economics, 104(4): 655-69.