Executive Compensation and Principal-Agent Theory.

Article OPEN
Garen, John E;
  • Journal: Journal of Political Economy, volume 102, issue 6 December, pages 1,175-99
  • Identifiers: doi: 10.1086/261967

The empirical literature on executive compensation generally fails to specify a model of executive pay on which to base hypotheses regarding its determinants. In contrast, this paper analyzes a simple principal-agent model to determine how well it explains variations in... View more
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