Incentive Pay and the Market for CEOs: An Analysis of Pay-For-Performance Sensitivity

By C. Himmelberg, R. G. Hubbard. 2000

267 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/0197c0214088c04a781a7cf8fe8b63b287f5c38f

Citations in the corpus

• Does the Market for CEO Talent Explain Controversial CEO Pay Practices (2014, unknown): “However, when a CEO’s outside options are associated with industry conditions, a correlation between CEO compensation and industry performance could rise naturally (Himmelberg and Hubbard, 2000; Hubbard, 2005).”
• Peer Firms in Relative Performance Evaluation (2009, unknown): “Rajgopal, Shevlin, and Zamora (2006) find that the lack of RPE is due to the fact that CEO pay varies with outside employment opportunities (as in Himmelberg and Hubbard, 2000).”
• Incentive Compensation when Executives can Hedge the Market: Evidence of Relative Performance Evaluation in the Cross Section (2003, unknown): “Himmelberg and Hubbard (2000) and Oyer (2001) assume to the contrary that reservation utility fluctuates with the market.”
• Asymmetric benchmarking in compensation: Executives are rewarded for good luck but not penalized for bad (2006, unknown): “A related approach suggested by Oyer (2003) and Himmelberg and Hubbard (2000) focuses on the managers' threat of quitting not only ex ante (as in the traditional principal-agent model), but also ex post, after performance has been observed.”
• Executive Compensation and Competition in the Banking and Financial Sectors (2009, unknown): “It can be derived from a standard principal–agent model when executives have utilities that are isoelastic with respect to wealth and effort and exhibit CRRA (Himmelberg and Hubbard, 2000), or when preferences are Cobb–Douglas in leisure and money (Peng and Roell, 2008).”
• CEO reputation and stock-based compensation (2003, unknown): “Himmelberg and Hubbard (2000) also consider this measure in their analysis of the relative performance evaluation (RPE) puzzle.”