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Keywords: managerial compensation
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Journal Articles
The Accounting Review (2021) 96 (4): 315–339.
Published: 01 July 2021
... incentives from managerial compensation contracts because almost every chief executive officer (CEO) of a U.S. corporation holds stock options, whose payoffs are convex in firm value. Yet there is another way by which lenders can achieve their objective of reducing asset volatility—by stifling managers...