An analysis of CEO equity compensation in an incomplete contracting framework
I investigate whether equity grants increase the costs of CEO dismissal or departure (Oyer, 2004; Almazan and Suarez, 2003). I argue that costs of dismissal are increased because equity grants become exercisable upon forced departure. Equity grants can increase the costs of leaving because voluntari...
| Main Author: | |
|---|---|
| Published: |
Heriot-Watt University
2015
|
| Subjects: | |
| Online Access: | http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.700504 |