Search results for "Signing bonus"

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Dynamic Risk Taking with Bonus Schemes

2014

This paper studies dynamic risk taking by a risk-averse manager who receives a bonus; the company may default on its contractual obligations (debt and fixed compensation). We show that risk taking is time independent, and is summarized by the so-called risk aversion of derived utility. We highlight the importance of dynamic aspects and provide a foundation for common qualitative discussions that are based on characteristics of bonus functions. The paper cautions that deferral of fixed compensation may increase risk taking. Finally, we motivate a new bonus scheme that incentivizes the manager to implement the socially optimal risk level.

Scheme (programming language)Risk levelActuarial scienceRisk aversionCompensation (psychology)media_common.quotation_subjectFinancial risk managementFoundation (evidence)Compensation (engineering)IncentiveDebtEconomicsSigning bonusBusinessDeferralRisk takingGeneral Economics Econometrics and FinancecomputerFinancemedia_commoncomputer.programming_languageSSRN Electronic Journal

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PEPhysical Sciences and Engineering
- PE2Fundamental Constituents of Matter
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LSLife Sciences
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SHSocial Sciences and Humanities
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