Tournament Incentives vs. Equity Incentives of CFOs: The Effect on Firms' Risk Taking and Earnings Management
Description:
My dissertation consists of two essays on CFOs' promotion-based tournament incentives and performance-based equity incentives. The first essay examines the joint implications of CFOs' tournament incentives and equity incentives for firms' risk-taking. With the pay gap between the CEO and the CFO as the proxy for the CFO's tournament incentives, I find that the relationship between a firm's risk taking and the CFO's tournament incentives is non-monotonic. In particular, I show that below a certa…
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Date:
May 2017
Creator:
Han, Feng