Executive Equity Compensation and Incentives: A Survey
John E. Core
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Wayne R. Guay
University of Pennsylvania - Accounting Department
David F. Larcker
Stanford University - Graduate School of Business
Economic Policy Review, Vol. 9, No. 1, April 2003
Stock and option compensation and the level of managerial equity incentives are aspects of corporate governance that are especially controversial to shareholders, institutional activists, and governmental regulators. Similar to much of the corporate finance and corporate governance literature, research on stock-based compensation and incentives has generated not only useful insights, but also has produced many contradictory findings. Not surprisingly, many fundamental questions remain unanswered. In this article, the authors synthesize the broad literature on equity-based compensation and executive incentives, and highlight topics that seem especially appropriate for future research.
Number of Pages in PDF File: 24
Keywords: Executive compensation, stock options, equity incentives, corporate governance
JEL Classification: G32, G34, J33, M41
Date posted: September 6, 2005
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