High-powered incentives and fraudulent behavior: Stock-based versus stock option-based compensation

被引：9

作者：

Andergassen, Rainer ^{[1
]}

机构：

[1] Univ Bologna, Dept Econ, I-40126 Bologna, Italy

来源：

ECONOMICS LETTERS | 2008年 / 101卷 / 02期

关键词：

Executive compensation; Executive stock options; Restricted stock; Fraud; Incentives;

D O I：

10.1016/j.econlet.2008.07.009

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper examines the trade-off shareholders face between providing managers with incentives to exert beneficial effort and to engage in costly fraudulent activity. We provide a solution to the optimal compensation problem, given that shareholders can either grant (restricted) stock or stock options and given fixed average compensation costs. (C) 2008 Elsevier B.V. All rights reserved.

引用

页码：122 / 125

页数：4

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