We develop a mode compensation that maximizes the value of stockholders when the firm manger receives a compensation package that includes options with a pre determined strike price when the manager is both risk and effort averse.
Auditor Size, Market Segmentation and Litigation Patterns : A Theoretical Analysis,” Review of Accounting Studies, Vol. 10. pp. 59-92 (2005).
BAR-YOSEF, SASSON;
2005
Abstract
We develop a mode compensation that maximizes the value of stockholders when the firm manger receives a compensation package that includes options with a pre determined strike price when the manager is both risk and effort averse.
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