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CEO Compensation, Change, and Corporate Strategy

CEO compensation can influence the kinds of strategies that firms adopt. We argue that performance-related compensation creates an incentive to look for overly ambitious, hard to implement strategies. At a cost, shareholders can curb this tendency by precommitting to a regime of CEO overcompensation in highly changeable environments. Alternatively shareholders can commit to low CEO pay, although this requires a commitment mechanism ( either by the board of the individual company, or by the society as a whole ) to counter the incentive to renegotiate upwards..Printed Journal

Ketersediaan

Call NumberLocationAvailable
PSB lt.dasar - Pascasarjana1
Penerbit The American Finance Association.,
Edisi -
Subjek Corporate strategy
Change management
CEO
Compensation
ISBN/ISSN 00221082
Klasifikasi -
Deskripsi Fisik -
Info Detail Spesifik -
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