Managerial Incentives and Risk-taking

By Jeffrey L. Coles, Naveen D. Daniel, L. Naveen. 2006

2,783 citations recorded by the source corpus.

Subfields: Accounting, Finance, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/b40f9830b5ca7b671add8ee5febdae59dde1c94b

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

1. Jeong‐Bon Kim
2. Christopher S. Armstrong
3. Liandong Zhang
4. Terry Shevlin
5. Chen Lin
6. David F. Larcker
7. Iftekhar Hasan
8. Jens Hagendorff

In Finance

1. Jeong‐Bon Kim
2. Liandong Zhang
3. Terry Shevlin
4. Christopher S. Armstrong
5. Iftekhar Hasan
6. Chen Lin
7. Jens Hagendorff
8. Qiang Cheng

In Strategy and Management

1. Jeong‐Bon Kim
2. Liandong Zhang
3. Christopher S. Armstrong
4. Terry Shevlin
5. David F. Larcker
6. Qiang Cheng
7. Alex Edmans
8. Jens Hagendorff

Citations in the corpus

• Organizational Complexity and Succession Planning (2006, methodology): “My experiment is in the same spirit as Dechow and Sloan (1991) who examine (in Table 7 of their paper) whether having a relay succession plan affects investment in research and development (R&D). My dependent variables are R&D expenditure (R&D), capital expenditure (CAPEX), discretionary current acc”
• Managerial Attributes and Executive Compensation (2011, neutral): “A number of papers examine the relation between executive compensation and capital structure in various settings (e.g., Coles, Daniels, and Naveen, 2006, Mehran, 1992, Ortiz-Molina, 2007, etc.).”
• Failure processes and causes of company bankruptcy: a typology (2008, background): “This effect increases when manageri l wealth becomes more sensitive to stock volatility (Coles et al., 2006).”
• The causal effect of option pay on corporate risk management (2016, neutral): “…Guay (1999), Cohen, Hall, and Viceira (2000), Knopf, Nam, and Thornton (2002), Rajgopal and Shevlin (2002), Chen, Steiner, and Whyte (2006), Coles, Daniel, and Naveen (2006), Lewellen (2006), Brockman, Martin, and Unlu (2009), Dong, Wang, and Xie (2010), Chava and Purnanandam (2010),…”
• Corporate Social Responsibility and CEO Risk-Taking Incentives (2016, neutral): “…income deflated by total assets (Coles et al., 2006; Low, 2009); 4) CAPEX, which is defined as capital expenditure expenses over total assets (Coles et al., 2006; Low, 2009); 5) Q, which is Tobin’s Q and is computed as the sum of the book value of total assets plus the market value of common…”
• Managers Set the Tone: Equity Incentives and the Tone of Earnings Press Releases (2016, positive): “For the new format, we follow the approach adopted by Coles et al. (2006) and Daniel, Li, and Naveen (2013) and distinguish between managers’ stock and option portfolios.12”
• Career Concerns and the Busy Life of the Young CEO (2017, background): “Younger CEOs are also associated with increased research and development (R&D) expenditures, a type of investment that is often considered very risky (Coles et al., 2006).”
• Non-Executive Employee Stock Options and Corporate Innovation (2015, neutral): “This feature has received extensive attention in studies on the relation between executive compensation and risk-taking (e.g., Smith and Stulz 1985, Guay 1999, Coles, Daniel, and Naveen 2006, Low 2009).”
• Directors' and officers' liability insurance and loan spreads (2013, background): “Inclusion of D&O insurance premiums as an additional control Core (2000) finds that the premium charged by D&O insurers appears to reflect litigation risk and the quality of corporate governance. Chalmers, Dann, and Harford (2002) argue that opportunistic managers with private information could seek”