2015
DOI: 10.1016/j.red.2014.04.003
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Executive compensation: A general equilibrium perspective

Abstract: used (reproduced, used via the internet, etc.) for non-commercial purposes and provided that the source is mentioned. Their use for commercial purposes is only permitted with the prior express consent of the SNB. General information and data published without reference to a copyright may be used without mentioning the source. To the extent that the information and data clearly derive from outside sources, the users of such information and data are obliged to respect any existing copyrights and to obtain the ri… Show more

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Cited by 8 publications
(1 citation statement)
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“…They attribute this effect to the undiversified idiosyncratic risk borne by managers that have incentive-based compensation packages. Danthine and Donaldson (2010) study the optimal contract in a general equilibrium setting where firms are run by risk averse managers and owned by risk averse shareholders. They derive a contract that maintains the incentive for managerial effort while still keeping the manager's pricing kernel in line with that of the diversified shareholders.…”
Section: Introductionmentioning
confidence: 99%
“…They attribute this effect to the undiversified idiosyncratic risk borne by managers that have incentive-based compensation packages. Danthine and Donaldson (2010) study the optimal contract in a general equilibrium setting where firms are run by risk averse managers and owned by risk averse shareholders. They derive a contract that maintains the incentive for managerial effort while still keeping the manager's pricing kernel in line with that of the diversified shareholders.…”
Section: Introductionmentioning
confidence: 99%