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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

Abstract:     
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

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Date posted: September 6, 2005  

Suggested Citation

Core, John E. and Guay, Wayne R. and Larcker, David F., Executive Equity Compensation and Incentives: A Survey. Economic Policy Review, Vol. 9, No. 1, April 2003. Available at SSRN: http://ssrn.com/abstract=794806

Contact Information

John E. Core (Contact Author)
Massachusetts Institute of Technology (MIT) - Sloan School of Management ( email )
77 Massachusetts Ave.
E62-416
Cambridge, MA 02138
United States
Wayne R. Guay
University of Pennsylvania - Accounting Department ( email )
3641 Locust Walk
Philadelphia, PA 19104-6365
United States
215-898-7775 (Phone)
215-573-2054 (Fax)

David F. Larcker
Stanford University - Graduate School of Business ( email )
Graduate School of Business
518 Memorial Way
Stanford, CA 94305-5015
United States
650-725-6159 (Phone)

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