We review the existing literature on managerial compensation, with particular reference to
the two contrasting views about its main driver. On the one hand, managerial compensation …

Executive compensation influences managerial risk preferences through executives'
portfolio sensitivities to changes in stock prices (delta) and stock return volatility (vega) …

We examine the effect of chief executive officer (CEO) compensation incentives on corporate
cash holdings and the value of cash to better understand how compensation incentives …

For a large sample of US firms from 1994 to 2009, we empirically examine the impact of
corporate hedging on the cost of public debt. We find strong evidence that hedging is …

In this study, we investigate the relationship between CEO tenure and cost of debt. Using a
sample of the FTSE All-Share Index firms listed on the London Stock Exchange for the …

Extant theory and empirical evidence indicate that equity-based compensation can align the
interests of managers with those of shareholders, but it has a side effect of aggravating …

This study investigates the impact of climate risks on stock prices and explores the measures
that corporate managers may take to stabilize their company's stock price in response to …

We examine how locked-in CEO equity attributable to large unrealized capital gains tax
liabilities influences the cost and restrictiveness of debt contracts. We find that firms enjoy …

This study examines the relation between CEO tournament incentives, proxied by the
difference between CEO pay and the median pay of the senior executives of a given firm …

This study examines how different components of executive compensation affect the cost of
debt. We find that debt-like and equity-like pay components have differing effects: an …