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dc.contributor.authorHAHN, GUANGSUG and JOON YEOP KWON-
dc.date.available2019-04-08T06:12:32Z-
dc.date.created2019-03-19-
dc.date.issued2018-10-11-
dc.identifier.urihttp://oasis.postech.ac.kr/handle/2014.oak/97618-
dc.description.abstractThe study investigates how a publicly traded firm’s liquidation value and stock price are used in an executive compensation contract when information acquisition in the asset market is endogenized. If the inside owner offers market-based compensation contract to the risk-averse manager, the inside owner expects higher utility than when stock prices are excluded from the contract. If information cost displays an intermediate value, changes in the exogenous parameters generate the direct effect and the indirect effect via the information market. Finally, we find that the market-based compensation contract contributes to the increase of social welfare.-
dc.languageEnglish-
dc.publisherFinancial Management Association-
dc.relation.ispartofProceedings of the 2018 FMA Annual Meeting-
dc.titleMarket-Based Executive Compensation Contract under Endogenous Information Acquisition-
dc.typeConference-
dc.type.rimsCONF-
dc.identifier.bibliographicCitationThe 2018 FMA Annual Meeting-
dc.citation.conferenceDate2018-10-10-
dc.citation.conferencePlaceUS-
dc.citation.conferencePlaceSan Diego, California, U.S.,-
dc.citation.titleThe 2018 FMA Annual Meeting-
dc.contributor.affiliatedAuthorHAHN, GUANGSUG and JOON YEOP KWON-
dc.description.journalClass1-

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 HAHN, GUANGSUG
Div of Humanities and Social Sciences
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