The DOI matches its Crossref record; 3 of the 3 references it cites were found in a registry or an index.
On the Efficiency of Stock-based Compensation
Abstract
When the market can observe the profitability of all projects with equal precision, then with stock compensation (i) the weight on any given project in managerial compensation is independent of the marginal productivity of effort in the project; (ii) the projects that are the noisiest indicators of managerial effort receive the most weight in compensation; and (iii) investors have the greatest incentive to collect information about projects that are the noisiest indicators of managerial effort.
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Citations
Cites
On the impossibility of informationally efficient markets
Stiglitz, J. E., & Grossman, S. J. (1980) · Columbia University · doi:10.7916/d8765r99 · Cited by 3,645
Evidence of Earnings Management from the Provision for Bad Debts
McNichols, M., & Wilson, G. P. (1988) · Journal of Accounting Research · doi:10.2307/2491176 · Cited by 919
Optimal Managerial Contracts and Equilibrium Security Prices
Diamond, D. W., & Verrecchia, R. E. (1982) · The Journal of Finance · doi:10.2307/2327326 · Cited by 286
Cited by
The Provision of Incentives in Firms
Prendergast, C. (1999) · Journal of Economic Literature · doi:10.1257/jel.37.1.7 · Cited by 3,338
Executive compensation structure, ownership, and firm performance
Mehran, H. (1995) · Journal of Financial Economics · doi:10.1016/0304-405x(94)00809-f · Cited by 2,086
The role of information and financial reporting in corporate governance and debt contracting
Armstrong, C. S., Guay, W. R., & Weber, J. P. (2010) · Journal of Accounting and Economics · doi:10.1016/j.jacceco.2010.10.001 · Cited by 1,494
Bushman, R. M., & Piotroski, J. D. (2006) · Journal of Accounting and Economics · doi:10.1016/j.jacceco.2005.10.005 · Cited by 1,115
Financial accounting information, organizational complexity and corporate governance systems
Bushman, R., Chen, Q., Engel, E., & Smith, A. (2004) · Journal of Accounting and Economics · doi:10.1016/j.jacceco.2003.09.005 · Cited by 1,059
Metadata
- Authors
- Paul, J. M.
- Venue
- Review of Financial Studies
- Publisher
- Oxford University Press (OUP)
- Published
- 1992-07
- Volume
- 5
- Issue
- 3
- Pages
- 471-502
- ISSN
- 0893-9454 (ISSN-L)
- 1465-7368
- OpenAlex
- W2028223001
- Cited by
- 266
- References
- 3
- FWCI
- 34.31
- Type
- journal article
- Language
- en
- Open access
- closed
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- Paul, J. M. (1992). On the Efficiency of Stock-based Compensation. Review of Financial Studies. https://doi.org/10.1093/rfs/5.3.471
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
