Why do managers diversify their firms? Agency reconsidered

Article Abstract:

Managerial incentives rather than decreased risk exposure cause managers to diversify their firms, according to this study.

Diversified Companies, Models, Causes of, Diversification in industry, Industrial diversification

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Incentive compensation when executives can hedge the market: evidence of relative performance evaluation in the cross section

Article Abstract:

A study of the influence of market risk on stock-based executive compensation in approximately 1,400 US firms is provided.

Compensation and benefits, Executives, Return on investment, Rate of return

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Performance incentives within firms: the effect of managerial responsibility

Article Abstract:

The segmentation of executive incentives by responsibility is discussed.

Employee incentives, Incentives (Business)

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