The DOI matches its Crossref record; 2 of the 2 references it cites were found in a registry or an index.
Pay Me Later: Inside Debt and Its Role in Managerial Compensation
Open accessAbstract
Though widely used in executive compensation, inside debt has been almost entirely overlooked by prior work. We initiate this research by studying CEO pension arrangements in 237 large capitalization firms. Among our findings are that CEO compensation exhibits a balance between debt and equity incentives; the balance shifts systematically away from equity and toward debt as CEOs grow older; annual increases in pension entitlements represent about 10% of overall CEO compensation, and about 13% for CEOs aged 61–65; CEOs with high debt incentives manage their firms conservatively; and pension compensation influences patterns of CEO turnover and cash compensation.
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Cites
Financing Constraints and Corporate Investment
Fazzari, S. M., Hubbard, R. G., Petersen, B. C., Blinder, A. S., & Poterba, J. M. (1988) · Brookings Papers on Economic Activity · doi:10.2307/2534426 · Cited by 5,574
Why Is There Mandatory Retirement?
Lazear, E. P. (1979) · Journal of Political Economy · doi:10.1086/260835 · Cited by 2,038
Cited by
Frydman, C., & Jenter, D. (2010) · Annual Review of Financial Economics · doi:10.1146/annurev-financial-120209-133958 · Cited by 542
Metadata
- Authors
- SUNDARAM, R. K., & YERMACK, D. L.
- Venue
- The Journal of Finance
- Publisher
- Wiley
- Published
- 2007-08
- Volume
- 62
- Issue
- 4
- Pages
- 1551-1588
- ISSN
- 0022-1082 (ISSN-L)
- 1540-6261
- OpenAlex
- W3122479576
- Cited by
- 600
- References
- 2
- FWCI
- 70.40
- Type
- journal article
- Language
- en
- Open access
- green
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- SUNDARAM, R. K., & YERMACK, D. L. (2007). Pay Me Later: Inside Debt and Its Role in Managerial Compensation. The Journal of Finance. https://doi.org/10.1111/j.1540-6261.2007.01251.x
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