Dynamic Incentive Accounts

Yuliy Sannikov, Xavier Gabaix, Tomasz Sadzik and Alex Edmans
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Yuliy Sannikov: Princeton
Tomasz Sadzik: NYU

No 1207, 2010 Meeting Papers from Society for Economic Dynamics

Abstract: remainder in cash. The account features state-dependent rebalancing and time-dependent vesting. It is constantly rebalanced so that the equity fraction remains above a certain threshold; this threshold sensitivity is typically increasing over time even in the absence of career concerns. The account vests gradually both during the CEO's employment and after he quits, to deter short-termist actions before retirement.

Date: 2010
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Related works:
Working Paper: Dynamic Incentive Accounts (2010)
Working Paper: Dynamic Incentive Accounts (2009)
Working Paper: Dynamic Incentive Accounts (2009)
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