search query: @author Aggarwal, R. / total: 40
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| Author: | Aggarwal, R. Samwick, A. |
| Title: | Executive compensation, strategic competition, and relative performance evaluation: theory and evidence |
| Journal: | Journal of Finance
1999 : DEC, VOL. 54:6, p. 1999-2043 |
| Index terms: | FINANCE PERFORMANCE APPRAISAL ECONOMICS |
| Language: | eng |
| Abstract: | The authors examine compensation contracts for managers in imperfectly competitive product markets. They show that strategic interactions among firms can explain the lack of relative performance-based incentives in which compensation decreases with rival firm performance. The need to soften product market competition generates an optimal compensation contract that places a positive weight on both own and rival performance. |
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