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Managerial Incentives and Capital Management
Home
Publications
Managerial Incentives and Capital Management
Managerial Incentives and Capital Management
BH
Bengt Holmstrom
Bengt Holmstrom
JC
Joan Ricart I Costa
Joan Ricart I Costa
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1 November 1986
journal article
Published by
Oxford University Press (OUP)
in
The Quarterly Journal of Economics
Vol. 101
(4)
,
835-860
https://doi.org/10.2307/1884180
Abstract
The paper shows how career concerns rather than effort aversion can induce a natural incongruity in risk preferences between managers and superiors.
Keywords
MODEL
CAREER
PREFERENCES
PRICE
DECENTRALIZATION
OPTIMAL
CONTRACT
CAPITAL
COUNTERBALANCE
INCONGRUITY
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Open Access
Cited by 454 articles