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Keywords: contract frictions
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Journal Articles
Journal:
The Accounting Review
The Accounting Review 1–26.
Published: 05 May 2025
...Robert Bushman; Zhonglan Dai; Weining Zhang ABSTRACT We conceptualize equity incentive contracting as a dynamic process in which contracting frictions limit the speed at which equity incentives adjust to target levels. Slower adjustment speeds imply more prolonged deviations from value-maximizing...