Alex Edmans

London Business School - Institute of Finance and Accounting

Professor of Finance

Sussex Place

Regent's Park

London NW1 4SA

United Kingdom

European Corporate Governance Institute (ECGI)

c/o the Royal Academies of Belgium

Rue Ducale 1 Hertogsstraat

1000 Brussels

Belgium

Centre for Economic Policy Research (CEPR)

London

United Kingdom

SCHOLARLY PAPERS

45

DOWNLOADS
Rank 261

SSRN RANKINGS

Top 261

in Total Papers Downloads

83,408

SSRN CITATIONS
Rank 277

SSRN RANKINGS

Top 277

in Total Papers Citations

1,537

CROSSREF CITATIONS

1,423

Scholarly Papers (45)

1.

Does the Stock Market Fully Value Intangibles? Employee Satisfaction and Equity Prices

Journal of Financial Economics 101(3), 621-640, September 2011
Number of pages: 43 Posted: 19 Mar 2008 Last Revised: 19 Dec 2013
Alex Edmans
London Business School - Institute of Finance and Accounting
Downloads 11,113 (620)
Citation 105

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Employee satisfaction, intangibles, market efficiency, underreaction, mispricing, human capital, socially responsible investing

2.

The Link Between Job Satisfaction and Firm Value, with Implications for Corporate Social Responsibility

Academy of Management Perspectives 26(4), 1-19, November 2012
Number of pages: 29 Posted: 08 May 2012 Last Revised: 19 Dec 2013
Alex Edmans
London Business School - Institute of Finance and Accounting
Downloads 4,403 (3,091)
Citation 20

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Human relations, human resource management, job satisfaction, corporate social responsibility

Employee Satisfaction, Labor Market Flexibility, and Stock Returns Around the World

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 433/2014, Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 60 Posted: 02 Jul 2014 Last Revised: 09 Jun 2022
Alex Edmans, Darcy Pu and Chendi Zhang
London Business School - Institute of Finance and Accounting, London Business School and University of Exeter Business School
Downloads 3,919 (3,668)
Citation 4

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Employee Satisfaction, Labor Market Flexibility, Socially Responsible Investing, Corporate Social Responsibility, ESG Investing

Employee Satisfaction, Labor Market Flexibility, and Stock Returns Around the World

NBER Working Paper No. w20300
Number of pages: 42 Posted: 24 Jul 2014 Last Revised: 20 Jun 2022
Alex Edmans, Lucius Li and Chendi Zhang
London Business School - Institute of Finance and Accounting, KFUPM Business School and University of Exeter Business School
Downloads 80 (420,565)

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Employee Satisfaction, Labor Market Flexibility, and Stock Returns Around the World

CEPR Discussion Paper No. DP10066
Number of pages: 44 Posted: 25 Sep 2014
Alex Edmans, Lucius Li and Chendi Zhang
London Business School - Institute of Finance and Accounting, KFUPM Business School and University of Exeter Business School
Downloads 6 (865,407)
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corporate social responsibility, employee satisfaction, labor market flexibility, socially responsible investing

4.
Downloads 3,561 ( 4,400)
Citation 84

Dynamic CEO Compensation

Journal of Finance 67(5), 1603-1647, October 2012
Number of pages: 63 Posted: 18 Mar 2009 Last Revised: 20 Dec 2013
London Business School - Institute of Finance and Accounting, Harvard University - Department of Economics, New York University (NYU) and University of California, Berkeley - Department of Economics
Downloads 3,449 (4,585)
Citation 26

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Contract theory, executive compensation, incentives, principal-agent problem, private saving, manipulation, vesting

Dynamic Incentive Accounts

NBER Working Paper No. w15324
Number of pages: 43 Posted: 08 Sep 2009 Last Revised: 16 May 2022
London Business School - Institute of Finance and Accounting, Harvard University - Department of Economics, New York University (NYU) and University of California, Berkeley - Department of Economics
Downloads 103 (358,723)

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Dynamic Incentive Accounts

CEPR Discussion Paper No. DP7497
Number of pages: 45 Posted: 17 Nov 2009
London Business School - Institute of Finance and Accounting, Harvard University - Department of Economics, New York University (NYU) and University of California, Berkeley - Department of Economics
Downloads 9 (832,218)
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Contract theory, executive compensation, incentives, manipulation, principal-agent problem, private saving, vesting

5.
Downloads 3,477 ( 4,595)
Citation 28

Blockholders and Corporate Governance

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 385/2013
Number of pages: 54 Posted: 27 Jun 2013 Last Revised: 16 Oct 2018
Alex Edmans
London Business School - Institute of Finance and Accounting
Downloads 3,428 (4,637)
Citation 27

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large shareholders, governance, voice, activism, exit, informed trading

Blockholders and Corporate Governance

NBER Working Paper No. w19573
Number of pages: 44 Posted: 25 Oct 2013 Last Revised: 26 Jun 2022
Alex Edmans
London Business School - Institute of Finance and Accounting
Downloads 48 (544,457)
Citation 3

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Blockholders and Corporate Governance

CEPR Discussion Paper No. DP9708
Number of pages: 45 Posted: 28 Oct 2013
Alex Edmans
London Business School - Institute of Finance and Accounting
Downloads 1 (933,997)
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activism, exit, governance, large shareholders, microstructure, voice

Blockholders and Corporate Governance

Annual Review of Financial Economics, Vol. 6, pp. 23-50, 2014
Posted: 25 Nov 2014
Alex Edmans
London Business School - Institute of Finance and Accounting

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6.

Sports Sentiment and Stock Returns

Journal of Finance 62(4), 1967-1998, August 2007
Number of pages: 47 Posted: 02 Mar 2005 Last Revised: 20 Dec 2013
Alex Edmans, Diego Garcia and Oyvind Norli
London Business School - Institute of Finance and Accounting, University of Colorado at Boulder - Leeds School of Business and BI Norwegian Business School - Department of Financial Economics
Downloads 3,376 (4,847)
Citation 43

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Football, sports, soccer, sentiment, mood, stock returns, behavioral finance

7.
Downloads 3,370 ( 4,859)
Citation 37

Executive Compensation: A Survey of Theory and Evidence

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 514/2016
Number of pages: 173 Posted: 26 Jun 2017 Last Revised: 30 Jun 2021
Alex Edmans, Xavier Gabaix and Dirk Jenter
London Business School - Institute of Finance and Accounting, Harvard University - Department of Economics and London School of Economics & Political Science (LSE) - Department of Finance
Downloads 2,532 (7,622)
Citation 24

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Executive compensation, contracts, principal-agent problem, rent extraction

Executive Compensation: A Survey of Theory and Evidence

CESifo Working Paper Series No. 6585
Number of pages: 169 Posted: 24 Aug 2017
Alex Edmans, Xavier Gabaix and Dirk Jenter
London Business School - Institute of Finance and Accounting, Harvard University - Department of Economics and London School of Economics & Political Science (LSE) - Department of Finance
Downloads 758 (46,593)
Citation 1

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executive compensation, CEO compensation, managerial incentives, pay-for-performance, corporate governance

Executive Compensation: A Survey of Theory and Evidence

NBER Working Paper No. w23596
Number of pages: 168 Posted: 17 Jul 2017 Last Revised: 23 Jun 2022
Alex Edmans, Xavier Gabaix and Dirk Jenter
London Business School - Institute of Finance and Accounting, Harvard University - Department of Economics and London School of Economics & Political Science (LSE) - Department of Finance
Downloads 79 (423,655)

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Executive Compensation: A Survey of Theory and Evidence

CEPR Discussion Paper No. DP12148
Number of pages: 170 Posted: 18 Jul 2017
Alex Edmans, Xavier Gabaix and Dirk Jenter
London Business School - Institute of Finance and Accounting, Harvard University - Department of Economics and London School of Economics & Political Science (LSE) - Department of Finance
Downloads 1 (933,997)
Citation 8
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Citation 33

Executive Compensation: A Modern Primer

Journal of Economic Literature 54(4), 1232-1287, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 450/2015
Number of pages: 79 Posted: 13 Mar 2015 Last Revised: 10 Feb 2020
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 3,107 (5,492)
Citation 37

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Executive compensation, contract theory, principal-agent problem, rent extraction, optimal contracting

Executive Compensation: A Modern Primer

NBER Working Paper No. w21131
Number of pages: 70 Posted: 04 May 2015 Last Revised: 28 Mar 2022
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 69 (457,229)

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Executive Compensation: A Modern Primer

CEPR Discussion Paper No. DP10566
Number of pages: 71 Posted: 05 May 2015
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 1 (933,997)
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contract theory, executive compensation, optimal contracting, principal-agent problem, rent extraction

Music Sentiment and Stock Returns Around the World

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 43 Posted: 18 Feb 2021 Last Revised: 14 Aug 2021
London Business School - Institute of Finance and Accounting, Auckland University of Technology, Audencia Business School and University of Adelaide
Downloads 3,094 (5,527)

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Investor Sentiment, Investor Mood, Behavioral Finance

Music Sentiment and Stock Returns Around the World

CEPR Discussion Paper No. DP15756
Number of pages: 41 Posted: 11 Feb 2021
London Business School - Institute of Finance and Accounting, Auckland University of Technology, Audencia Business School and University of Adelaide
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10.
Downloads 2,814 ( 6,577)
Citation 44

Blockholders: A Survey of Theory and Evidence

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 475/2016
Number of pages: 127 Posted: 13 Aug 2016 Last Revised: 08 Jul 2019
Alex Edmans and Clifford G. Holderness
London Business School - Institute of Finance and Accounting and Boston College - Department of Finance
Downloads 2,812 (6,471)
Citation 52

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Large shareholders, blockholders, governance, voice, activism, exit, microstructure, property rights

Blockholders: A Survey of Theory and Evidence

CEPR Discussion Paper No. DP11442
Number of pages: 102 Posted: 22 Aug 2016
Alex Edmans and Clifford G. Holderness
London Business School - Institute of Finance and Accounting and Boston College - Department of Finance
Downloads 2 (917,298)
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activism, blockholders, exit, governance, Large shareholders, microstructure, property rights., voice

11.
Downloads 2,800 ( 6,621)
Citation 27

Equity Vesting and Investment

Review of Financial Studies, Forthcoming, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 379/2013, Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 65 Posted: 27 May 2013 Last Revised: 11 Aug 2020
London Business School - Institute of Finance and Accounting, University of Minnesota - Twin Cities - Carlson School of Management and Dartmouth College - Tuck School of Business
Downloads 2,741 (6,709)
Citation 26

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Investment, Short-Termism, Managerial Myopia, Vesting, CEO Incentives

Equity Vesting and Managerial Myopia

NBER Working Paper No. w19407
Number of pages: 55 Posted: 07 Sep 2013 Last Revised: 13 Jul 2022
London Business School - Institute of Finance and Accounting, University of Minnesota - Twin Cities - Carlson School of Management and Dartmouth College - Tuck School of Business
Downloads 58 (499,568)

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Equity Vesting and Managerial Myopia

CEPR Discussion Paper No. DP10145
Number of pages: 54 Posted: 25 Sep 2014
London Business School - Institute of Finance and Accounting, University of Minnesota - Twin Cities - Carlson School of Management and Dartmouth College - Tuck School of Business
Downloads 1 (933,997)
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CEO Incentives, Managerial Myopia, Short-Termism, Vesting

12.
Downloads 2,406 ( 8,373)
Citation 9

Financing Through Asset Sales

Management Science, Forthcoming, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 344/2013, Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 56 Posted: 19 Mar 2012 Last Revised: 11 Aug 2020
Alex Edmans and William Mann
London Business School - Institute of Finance and Accounting and Emory University - Department of Finance
Downloads 2,388 (8,318)
Citation 9

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Asset sales, financing, pecking order, synergies

Financing Through Asset Sales

NBER Working Paper No. w18677
Number of pages: 43 Posted: 05 Jan 2013 Last Revised: 15 Jul 2022
Alex Edmans and William Mann
London Business School - Institute of Finance and Accounting and Emory University - Department of Finance
Downloads 18 (743,722)

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Financing Through Asset Sales

CEPR Discussion Paper No. DP9720
Number of pages: 43 Posted: 08 Nov 2013
Alex Edmans and William Mann
London Business School - Institute of Finance and Accounting and Emory University - Department of Finance
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Asset sales, Financing, Pecking order, Synergies

13.
Downloads 2,344 ( 8,700)
Citation 14

The Long-Term Consequences of Short-Term Incentives

Journal of Accounting Research, forthcoming, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 527/2017
Number of pages: 57 Posted: 18 Sep 2017 Last Revised: 14 Jan 2022
Alex Edmans, Vivian W. Fang and Allen Huang
London Business School - Institute of Finance and Accounting, University of Minnesota - Twin Cities - Carlson School of Management and Hong Kong University of Science and Technology - Department of Accounting
Downloads 2,344 (8,546)
Citation 18

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Repurchases, M&A, Short-Termism, CEO Incentives, Managerial Myopia

The Long-Term Consequences of Short-Term Incentives

CEPR Discussion Paper No. DP12305
Number of pages: 47 Posted: 20 Sep 2017
Alex Edmans, Vivian W. Fang and Allen Huang
London Business School - Institute of Finance and Accounting, University of Minnesota - Twin Cities - Carlson School of Management and Hong Kong University of Science and Technology - Department of Accounting
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Repurchases; M&A; Short-Termism; CEO Incentives; Managerial Myopia; Vesting

14.

Do Investment Banks Matter for M&A Returns?

Review of Financial Studies, Vol. 24, No. 7, pp. 2286-2315, July 2011, EFA 2007 Ljubljana Meetings Paper
Number of pages: 41 Posted: 21 Dec 2006 Last Revised: 07 Dec 2011
Jack Bao and Alex Edmans
University of Delaware - Department of Finance and London Business School - Institute of Finance and Accounting
Downloads 2,295 (9,019)
Citation 10

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Investment Banking, Persistence, Mergers & Acquisitions

15.

The Real Effects of Financial Markets: The Impact of Prices on Takeovers

Journal of Finance 67(3), 933-971, June 2012
Number of pages: 58 Posted: 19 Mar 2008 Last Revised: 04 Jun 2014
Alex Edmans, Itay Goldstein and Wei Jiang
London Business School - Institute of Finance and Accounting, University of Pennsylvania - The Wharton School - Finance Department and Emory University Goizueta Business School
Downloads 2,130 (10,205)
Citation 37

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Takeovers, mergers and acquisitions, market valuation, feedback effects, financial and real efficiency, merger waves

16.
Downloads 2,121 ( 10,281)

The Purpose of a Finance Professor

European Corporate Governance Institute – Finance Working Paper No.810/2021, Financial Management, forthcoming
Number of pages: 55 Posted: 04 Jan 2022 Last Revised: 24 Jan 2022
Alex Edmans
London Business School - Institute of Finance and Accounting
Downloads 2,121 (10,097)

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Purpose, citizenship, collegiality, research, teaching, impact, innovation

The Purpose of a Finance Professor

CEPR Discussion Paper No. DP16845
Number of pages: 52 Posted: 04 Feb 2022
Alex Edmans
London Business School - Institute of Finance and Accounting
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Citizenship, collegiality, impact, Innovation, Purpose, Research, teaching

17.

Inside Debt

Review of Finance, Vol. 15, No. 1, pp. 75-102, January 2011, EFA 2007 Ljubljana Meetings Paper
Number of pages: 27 Posted: 21 Jul 2005 Last Revised: 07 Dec 2011
Alex Edmans and Qi Liu
London Business School - Institute of Finance and Accounting and Peking University - Department of Finance
Downloads 2,003 (11,343)
Citation 17

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Agency costs of debt, asset substitution, risk shifting, executive compensation, pensions

Is CEO Pay Really Inefficient? A Survey of New Optimal Contracting Theories

Europen Financial Management, Vol. 15, No. 3, pp. 486-496, June 2009
Number of pages: 13 Posted: 24 Sep 2008 Last Revised: 07 Dec 2011
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 1,624 (15,478)
Citation 1

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Executive compensation, pay-performance sensitivity, rent extraction, optimal contracting

Is CEO Pay Really Inefficient? A Survey of New Optimal Contracting Theories

NYU Working Paper No. FIN-08-026
Number of pages: 13 Posted: 09 Mar 2009 Last Revised: 07 Dec 2011
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 242 (176,672)

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Is CEO Pay Really Inefficient? A Survey of New Optimal Contracting Theories

European Financial Management, Vol. 15, Issue 3, pp. 486-496, June 2009
Number of pages: 11 Posted: 27 May 2009
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 1 (933,997)
Citation 5

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Downloads 1,748 ( 14,071)
Citation 17

Governance Under Common Ownership

Review of Financial Studies, Forthcoming, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 437/2014
Number of pages: 69 Posted: 20 Aug 2014 Last Revised: 26 Apr 2022
Alex Edmans, Doron Levit and Devin Reilly
London Business School - Institute of Finance and Accounting, University of Washington, Foster School of Business and Analysis Group
Downloads 1,713 (14,297)
Citation 13

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Corporate governance, banks, blockholders, monitoring, intervention, exit, trading, common ownership.

Governance and Comovement Under Common Ownership

NBER Working Paper No. w20420
Number of pages: 58 Posted: 03 Sep 2014 Last Revised: 18 Apr 2022
Alex Edmans, Doron Levit and Devin Reilly
London Business School - Institute of Finance and Accounting, University of Washington, Foster School of Business and Analysis Group
Downloads 35 (615,158)

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Governance and Comovement Under Common Ownership

CEPR Discussion Paper No. DP10119
Number of pages: 60 Posted: 23 Oct 2014
Alex Edmans, Doron Levit and Devin Reilly
London Business School - Institute of Finance and Accounting, University of Washington, Foster School of Business and Analysis Group
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blockholders, corporate governance, correlation, exit, trading

20.
Downloads 1,697 ( 14,779)
Citation 2

CEO Compensation: Evidence From the Field

European Corporate Governance Institute – Finance Working Paper No. 771/2021
Number of pages: 76 Posted: 30 Jun 2021 Last Revised: 28 Mar 2022
Alex Edmans, Tom Gosling and Dirk Jenter
London Business School - Institute of Finance and Accounting, London Business School and London School of Economics & Political Science (LSE) - Department of Finance
Downloads 1,639 (15,270)
Citation 3

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Executive Compensation, Contract Theory, CEO Incentives, Fairness, Survey

CEO Compensation: Evidence from the Field

CESifo Working Paper No. 9162
Number of pages: 67 Posted: 09 Jul 2021
Alex Edmans, Tom Gosling and Dirk Jenter
London Business School - Institute of Finance and Accounting, London Business School and London School of Economics & Political Science (LSE) - Department of Finance
Downloads 58 (499,568)

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CEO Compensation: Evidence from the Field

CEPR Discussion Paper No. DP16315
Number of pages: 69 Posted: 14 Jul 2021
Alex Edmans, Tom Gosling and Dirk Jenter
London Business School - Institute of Finance and Accounting, London Business School and London School of Economics & Political Science (LSE) - Department of Finance
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21.
Downloads 1,566 ( 16,645)
Citation 46

The Effect of Liquidity on Governance

Review of Financial Studies, June 2013, 26(6), 1443-1482. , European Corporate Governance Institute (ECGI) - Finance Working Paper No. 319/2011
Number of pages: 66 Posted: 04 Aug 2011 Last Revised: 23 Oct 2018
Alex Edmans, Vivian W. Fang and Emanuel Zur
London Business School - Institute of Finance and Accounting, University of Minnesota - Twin Cities - Carlson School of Management and University of Maryland - Robert H. Smith School of Business
Downloads 1,520 (17,117)
Citation 49

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Stock Liquidity, Corporate Governance, Hedge Fund Activism, Blockholders, Exit, Voice

The Effect of Liquidity on Governance

NBER Working Paper No. w17567
Number of pages: 48 Posted: 04 Nov 2011 Last Revised: 03 Jul 2022
Alex Edmans, Vivian W. Fang and Emanuel Zur
London Business School - Institute of Finance and Accounting, University of Minnesota - Twin Cities - Carlson School of Management and University of Maryland - Robert H. Smith School of Business
Downloads 46 (554,305)
Citation 1

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Downloads 1,565 ( 16,666)
Citation 18

Strategic News Releases in Equity Vesting Months

Review of Financial Studies (RFS), Forthcoming, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 440/2014, NBER Working Paper No. w20476, Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 58 Posted: 30 Aug 2014 Last Revised: 11 Aug 2020
London Business School - Institute of Finance and Accounting, University of New South Wales (UNSW), Queen Mary University of London and Sungkyunkwan University (SKK) Graduate School of Business
Downloads 1,539 (16,798)
Citation 17

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Voluntary Disclosure, Equity Vesting, CEO Incentives, News

Strategic News Releases in Equity Vesting Months

NBER Working Paper No. w20476
Number of pages: 49 Posted: 15 Sep 2014 Last Revised: 13 Jun 2022
London Business School - Institute of Finance and Accounting, University of New South Wales (UNSW), Sungkyunkwan University (SKK) Graduate School of Business and Queen Mary University of London
Downloads 26 (676,883)

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Strategic News Releases in Equity Vesting Months

CEPR Discussion Paper No. DP10144
Number of pages: 51 Posted: 25 Sep 2014
London Business School - Institute of Finance and Accounting, University of New South Wales (UNSW), Sungkyunkwan University (SKK) Graduate School of Business and Queen Mary University of London
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CEO Incentives, Equity Vesting, News., Voluntary Disclosure

The Real Costs of Financial Efficiency When Some Information Is Soft

Review of Finance, Forthcoming, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 380/2013
Number of pages: 51 Posted: 26 Aug 2013 Last Revised: 20 Oct 2018
London Business School - Institute of Finance and Accounting, University of Pennsylvania - Accounting Department and University of California, Irvine - Paul Merage School of Business
Downloads 1,434 (18,642)
Citation 12

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Financial efficiency, real efficiency, managerial myopia, investment, disclosure, cost of capital

The Real Costs of Disclosure

NBER Working Paper No. w19420
Number of pages: 46 Posted: 14 Sep 2013 Last Revised: 25 Jul 2022
London Business School - Institute of Finance and Accounting, University of Pennsylvania - Accounting Department and University of California, Irvine - Paul Merage School of Business
Downloads 45 (559,389)

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The Real Costs of Disclosure

CEPR Discussion Paper No. DP9637
Number of pages: 48 Posted: 09 Sep 2013
London Business School - Institute of Finance and Accounting, University of Pennsylvania - Accounting Department and University of California, Irvine - Paul Merage School of Business
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cost of capital., Disclosure, financial and real efficiency, investment, managerial myopia

24.

Governance Through Trading and Intervention: A Theory of Multiple Blockholders

Review of Financial Studies, Vol. 24, No. 7, pp. 2395-2428, July 2011, AFA 2009 San Francisco Meetings Paper, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 225/2011, EFA 2008 Athens Meetings Paper, U of Penn, Inst for Law & Econ Research Paper No. 08-09
Number of pages: 37 Posted: 17 Mar 2008 Last Revised: 29 Oct 2018
Alex Edmans and Gustavo Manso
London Business School - Institute of Finance and Accounting and University of California, Berkeley - Haas School of Business
Downloads 1,475 (18,201)
Citation 34

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Multiple blockholders, corporate governance, market efficiency, informed trading, free-rider problem, Wall Street Rule, voting with your feet

25.

Blockholder Trading, Market Efficiency, and Managerial Myopia

Journal of Finance, Vol. 64, No. 6, pp. 2481-2513, U of Penn, Inst for Law & Econ Research Paper No. 08-08
Number of pages: 35 Posted: 22 Nov 2006 Last Revised: 07 Dec 2011
Alex Edmans
London Business School - Institute of Finance and Accounting
Downloads 1,471 (18,294)
Citation 56

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Blockholders, market efficiency, myopia, short-termism, intangible investment, Wall Street Rule, voting with your feet

26.
Downloads 1,279 ( 22,737)

Socially Responsible Divestment

European Corporate Governance Institute – Finance Working Paper No. 823/2022
Number of pages: 57 Posted: 30 Apr 2022 Last Revised: 07 Jul 2022
Alex Edmans, Doron Levit and Jan Schneemeier
London Business School - Institute of Finance and Accounting, University of Washington, Foster School of Business and Indiana University - Kelley School of Business - Department of Finance
Downloads 1,278 (22,204)

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Socially responsible investing, sustainable investing, externalities, exclusion, divestment, tilting, exit, governance.

Socially Responsible Divestment

CEPR Discussion Paper No. DP17262
Number of pages: 46 Posted: 27 May 2022
Alex Edmans, Doron Levit and Jan Schneemeier
London Business School - Institute of Finance and Accounting, University of Washington, Foster School of Business and Indiana University - Kelley School of Business - Department of Finance
Downloads 1 (933,997)
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Divestment, Exclusion, exit, Externalities, governance, Socially responsible investing, sustainable investing, tilting

A Multiplicative Model of Optimal CEO Incentives in Market Equilibrium

Review of Financial Studies, Vol. 22, No. 12, pp. 4881-4917, December 2009, EFA 2008 Athens Meetings Paper
Number of pages: 42 Posted: 19 Mar 2008 Last Revised: 07 Dec 2011
Alex Edmans, Xavier Gabaix and Augustin Landier
London Business School - Institute of Finance and Accounting, Harvard University - Department of Economics and HEC
Downloads 1,267 (22,506)
Citation 43

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Executive compensation, multiplicative preferences, pay-performance sensitivity, incentives, perks, optimal contracting, calibration

A Multiplicative Model of Optimal CEO Incentives in Market Equilibrium

The Review of Financial Studies, Vol. 22, Issue 12, pp. 4881-4917, 2009
Posted: 24 Nov 2009
Alex Edmans, Xavier Gabaix and Augustin Landier
London Business School - Institute of Finance and Accounting, Harvard University - Department of Economics and HEC

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D2, D3, G34, J3

28.
Downloads 1,136 ( 26,835)
Citation 54

The Effect of Risk on the CEO Market

Review of Financial Studies 24(8), 2822-2863, August 2011
Number of pages: 44 Posted: 31 Dec 2009 Last Revised: 20 Dec 2013
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 1,074 (28,678)
Citation 12

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Executive compensation, incentives, talent, market equilibrium, risk, assignment

Risk and the CEO Market: Why Do Some Large Firms Hire Highly-Paid, Low-Talent CEOS?

NBER Working Paper No. w15987
Number of pages: 43 Posted: 17 May 2010 Last Revised: 09 Mar 2022
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 57 (503,670)

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Risk and the CEO Market: Why Do Some Large Firms Hire Highly-Paid, Low-Talent CEOs?

CEPR Discussion Paper No. DP7836
Number of pages: 45 Posted: 19 Jul 2010
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 5 (876,851)
Citation 1
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assignment, executive compensation, incentives, market equilibrium, risk, talent

29.
Downloads 1,118 ( 27,468)
Citation 103

The Real Effects of Financial Markets

Annual Review of Financial Economics 4, 339-360, October 2012, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 323/2012
Number of pages: 41 Posted: 24 Dec 2011 Last Revised: 30 Oct 2018
Philip Bond, Alex Edmans and Itay Goldstein
University of Washington - Michael G. Foster School of Business, London Business School - Institute of Finance and Accounting and University of Pennsylvania - The Wharton School - Finance Department
Downloads 1,025 (30,677)
Citation 94

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Feedback effects, financial efficiency, market efficiency, real efficiency

The Real Effects of Financial Markets

NBER Working Paper No. w17719
Number of pages: 36 Posted: 31 Dec 2011 Last Revised: 02 Jun 2022
Philip Bond, Alex Edmans and Itay Goldstein
University of Washington - Michael G. Foster School of Business, London Business School - Institute of Finance and Accounting and University of Pennsylvania - The Wharton School - Finance Department
Downloads 93 (383,403)
Citation 12

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The Real Effects of Financial Markets

Annual Review of Financial Economics, Vol. 4, pp. 339-360, 2012
Posted: 04 Nov 2012
Philip Bond, Alex Edmans and Itay Goldstein
University of Washington - Michael G. Foster School of Business, London Business School - Institute of Finance and Accounting and University of Pennsylvania - The Wharton School - Finance Department

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30.

The Responsible Homeowner Reward: An Incentive-Based Solution to Strategic Mortgage Default

Number of pages: 18 Posted: 29 Jun 2010 Last Revised: 07 Dec 2011
Alex Edmans
London Business School - Institute of Finance and Accounting
Downloads 940 (35,153)
Citation 7

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Strategic default, mortgages, incentives, behavioral economics, household finance

31.
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Citation 2

How Should Performance Signals Affect Contracts?

Review of Financial Studies, forthcoming, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 439/2014
Number of pages: 81 Posted: 29 Aug 2014 Last Revised: 03 Aug 2021
Queen's Universityaffiliation not provided to SSRN, London Business School - Institute of Finance and Accounting and London School of Economics
Downloads 871 (38,628)
Citation 1

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informativeness principle, limited liability, option repricing, pay-for-luck, performance-based vesting, performance-sensitive debt

The Informativeness Principle Under Limited Liability

NBER Working Paper No. w20456
Number of pages: 22 Posted: 08 Sep 2014 Last Revised: 25 May 2022
Queen's Universityaffiliation not provided to SSRN, London Business School - Institute of Finance and Accounting and London School of Economics
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The Informativeness Principle Under Limited Liability

CEPR Discussion Paper No. DP10143
Number of pages: 24 Posted: 25 Sep 2014
Queen's Universityaffiliation not provided to SSRN, London Business School - Institute of Finance and Accounting and Paul Baerwald School of Social Work
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Citation 1
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contract theory, Informativeness principle, limited liability, options, pay-for-luck, principal-agent model, relative performance evaluation

How Should Performance Signals Affect Contracts?

CEPR Discussion Paper No. DP15755
Number of pages: 77 Posted: 11 Feb 2021
Queen's Universityaffiliation not provided to SSRN, London Business School - Institute of Finance and Accounting and London School of Economics
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32.

The Source of Information in Prices and Investment-Price Sensitivity

Journal of Financial Economics (JFE), Forthcoming, Simon Business School Working Paper No. FR 16-01
Number of pages: 54 Posted: 15 Jan 2016 Last Revised: 24 Dec 2016
London Business School - Institute of Finance and Accounting, Simon Business School, University of RochesterUniversity of Rochester - Simon Business School and Indiana University - Kelley School of Business - Department of Finance
Downloads 882 (38,554)
Citation 21

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Financial Efficiency; Real Efficiency; Real Effects of Financial Markets; Insider Trading

Feedback Effects, Asymmetric Trading, and the Limits to Arbitrage

American Economic Review, Forthcoming, AFA 2013 San Diego Meetings Paper, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 318/2015
Number of pages: 67 Posted: 21 Mar 2011 Last Revised: 29 Oct 2018
Alex Edmans, Itay Goldstein and Wei Jiang
London Business School - Institute of Finance and Accounting, University of Pennsylvania - The Wharton School - Finance Department and Emory University Goizueta Business School
Downloads 813 (42,441)
Citation 29

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Limits to arbitrage, feedback effect, overinvestment

Feedback Effects and the Limits to Arbitrage

NBER Working Paper No. w17582
Number of pages: 52 Posted: 15 Nov 2011 Last Revised: 24 Jul 2022
Alex Edmans, Itay Goldstein and Wei Jiang
London Business School - Institute of Finance and Accounting, University of Pennsylvania - The Wharton School - Finance Department and Emory University Goizueta Business School
Downloads 53 (521,024)

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Feedback Effects and the Limits to Arbitrage

CEPR Discussion Paper No. DP9917
Number of pages: 44 Posted: 02 Jun 2014
Alex Edmans, Itay Goldstein and Wei Jiang
London Business School - Institute of Finance and Accounting, University of Pennsylvania - The Wharton School - Finance Department and Emory University Goizueta Business School
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feedback effect, Limits to arbitrage, overinvestment

34.
Downloads 812 ( 43,077)
Citation 6

Does Improved Information Improve Incentives?

Journal of Financial Economics (JFE), Forthcoming, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 442/2014
Number of pages: 74 Posted: 24 May 2013 Last Revised: 23 Aug 2017
Queen's Universityaffiliation not provided to SSRN, London Business School - Institute of Finance and Accounting and London School of Economics
Downloads 796 (43,638)
Citation 4

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Executive compensation, limited liability, options, risk management, relative performance evaluation.

The Value of Informativeness for Contracting

NBER Working Paper No. w20542
Number of pages: 60 Posted: 06 Oct 2014 Last Revised: 17 Feb 2022
Queen's Universityaffiliation not provided to SSRN, London Business School - Institute of Finance and Accounting and London School of Economics
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The Value of Informativeness for Contracting

CEPR Discussion Paper No. DP10180
Number of pages: 62 Posted: 06 Oct 2014
Queen's Universityaffiliation not provided to SSRN, London Business School - Institute of Finance and Accounting and Paul Baerwald School of Social Work
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contract theory, informativeness principle, limited liability, options, pay-for-luck, principal-agent model, relative performance evaluation

35.

Short-Term Termination Without Deterring Long-Term Investment: A Theory of Debt and Buyouts

Journal of Financial Economics 102(1), 81-101, October 2011
Number of pages: 42 Posted: 08 Jun 2006 Last Revised: 20 Dec 2013
Alex Edmans
London Business School - Institute of Finance and Accounting
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Citation 2

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Termination, liquidation, managerial myopia, ownership concentration, monitoring, leverage, private equity

36.
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Contracting with Synergies

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 320/2011, Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 55 Posted: 13 Nov 2011 Last Revised: 11 Aug 2020
Alex Edmans, Itay Goldstein and John Zhu
London Business School - Institute of Finance and Accounting, University of Pennsylvania - The Wharton School - Finance Department and University of Kansas
Downloads 485 (82,550)

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contract theory, complementarities, principal-agent problem, multiple agents, teams, synergies, influence

Contracting with Synergies

NBER Working Paper No. w17606
Number of pages: 40 Posted: 21 Nov 2011 Last Revised: 11 Aug 2022
Alex Edmans, Itay Goldstein and John Zhu
London Business School - Institute of Finance and Accounting, University of Pennsylvania - The Wharton School - Finance Department and University of Kansas
Downloads 30 (647,683)

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Contracting with Synergies

CEPR Discussion Paper No. DP9559
Number of pages: 51 Posted: 17 Jul 2013
Alex Edmans, Itay Goldstein and John Zhu
London Business School - Institute of Finance and Accounting, University of Pennsylvania - The Wharton School - Finance Department and University of Kansas
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complementarities, contract theory, influence, multiple agents, principal-agent problem, synergies, teams

Contracting with Synergies

CEPR Discussion Paper No. DP9747
Number of pages: 52 Posted: 19 Nov 2013
Alex Edmans, Itay Goldstein and John Zhu
London Business School - Institute of Finance and Accounting, University of Pennsylvania - The Wharton School - Finance Department and University of Kansas
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complementarities, Contract theory, influence., multiple agents, principal-agent problem, synergies, teams

The Informativeness Principle Without the First-Order Approach

Games and Economic Behavior, Forthcoming, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 444/2014
Number of pages: 39 Posted: 19 Nov 2014 Last Revised: 28 Aug 2018
Queen's Universityaffiliation not provided to SSRN, London Business School - Institute of Finance and Accounting and London School of Economics
Downloads 441 (92,424)
Citation 1

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Contract theory, principal-agent model, informativeness principle

The Generalized Informativeness Principle

NBER Working Paper No. w20729
Number of pages: 20 Posted: 08 Dec 2014 Last Revised: 09 May 2021
Queen's Universityaffiliation not provided to SSRN, London Business School - Institute of Finance and Accounting and London School of Economics
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The Generalized Informativeness Principle

CEPR Discussion Paper No. DP10279
Number of pages: 21 Posted: 08 Dec 2014
Queen's Universityaffiliation not provided to SSRN, London Business School - Institute of Finance and Accounting and London School of Economics
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Contract theory, informativeness principle., principal-agent model

38.
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Citation 40

Tractability in Incentive Contracting

Review of Financial Studies, Forthcoming
Number of pages: 31 Posted: 22 Jul 2008 Last Revised: 07 Dec 2011
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 386 (107,969)
Citation 1

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Contract theory, executive compensation, incentives, principal-agent problem, closed forms, multiperiod contracts, multiperiod games.

Tractability in Incentive Contracting

NBER Working Paper No. w15545
Number of pages: 67 Posted: 01 Dec 2009 Last Revised: 24 Jun 2022
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 38 (597,200)
Citation 1

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Tractability in Incentive Contracting

CEPR Discussion Paper No. DP7578
Number of pages: 69 Posted: 11 Jan 2010
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
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Citation 4
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closed forms, contract theory, dispersive order, executive compensation, incentives, principal-agent problem, subderivative

39.

A Primer on Tractable Incentive Contracts

Number of pages: 8 Posted: 24 Jun 2011 Last Revised: 07 Dec 2011
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 290 (148,001)

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Contract theory, executive compensation, incentives, principal-agent problem, closed forms, multiperiod contracts

40.

When Is (Performance-Sensitive) Debt Optimal?

European Corporate Governance Institute – Finance Working Paper 780/2021
Number of pages: 42 Posted: 18 Aug 2021 Last Revised: 07 Jul 2022
Queen's Universityaffiliation not provided to SSRN, London Business School - Institute of Finance and Accounting and London School of Economics
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informativeness principle, limited liability, performance-sensitive debt

A Calibratable Model of Optimal CEO Incentives in Market Equilibrium

NYU Working Paper No. FIN-07-022
Number of pages: 50 Posted: 03 Nov 2008
Alex Edmans, Xavier Gabaix and Augustin Landier
London Business School - Institute of Finance and Accounting, Harvard University - Department of Economics and HEC
Downloads 96 (375,660)

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A Calibratable Model of Optimal CEO Incentives in Market Equilibrium

NBER Working Paper No. w13372
Number of pages: 51 Posted: 10 Sep 2007 Last Revised: 17 Jul 2022
Alex Edmans, Xavier Gabaix and Augustin Landier
London Business School - Institute of Finance and Accounting, Harvard University - Department of Economics and HEC
Downloads 45 (559,389)

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42.

Tractability and Detail-Neutrality in Incentive Contracting

NYU Working Paper No. FIN-08-019
Number of pages: 46 Posted: 09 Mar 2009
Alex Edmans and Xavier Gabaix
London Business School - Institute of Finance and Accounting and Harvard University - Department of Economics
Downloads 86 (398,798)

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43.

Top Dogs and Fat Cats: The Debate on High Pay

Institute of Economic Affairs
Number of pages: 215 Posted: 03 Jun 2021
London Business School - Institute of Finance and Accounting, affiliation not provided to SSRN, University of Bristol, affiliation not provided to SSRN, Independent, affiliation not provided to SSRN, University College London - Centre for the Study of Decision-Making Uncertainty, Independent, Westminster Business SchoolInstitute of Economic Affairs (IEA), University College London and affiliation not provided to SSRN
Downloads 81 (413,020)

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UK, Britain, wage, salary, employment, corporate governance, business administration, government policy, populism, government regulation, pay ratios

44.

When is (Performance-Sensitive) Debt Optimal?

CEPR Discussion Paper No. DP16433
Number of pages: 31 Posted: 22 Sep 2021
Alex Edmans
London Business School - Institute of Finance and Accounting
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Informativeness principle, limited liability, performance-sensitive debt

45.

The Long-Term Consequences of Short-Term Incentives

Journal of Accounting Research, Volume 60, Issue 3
Alex Edmans, Vivian W. Fang and Allen Huang
London Business School - Institute of Finance and Accounting, University of Minnesota - Twin Cities - Carlson School of Management and Hong Kong University of Science and Technology - Department of Accounting

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epurchases; M&A; short-termism; CEO incentives; managerial myopia