EXECUTIVE COMPENSATION: A MULTI-TASKING MODEL

Executive Compensation: A Modern Primer

T is considerable debate on executive compensation in both the public arena and academia. This debate spans several important topics in economics, such as contract theory, corporate finance, corporate governance, labor economics, and income inequality. One side is the “rent extraction” view, which claims that current compensation practices sharply contrast the predictions of traditional agency ...

Executive Compensation : a Calibration Approach

We use a version of the Grossman and Hart (1983) principal-agent model with 10 actions and 10 states to produce quantitative predictions for executive compensation. Performance incentives derived from the model are compared with the performance incentives of 350 firms from a survey by Michael Jensen and Kevin Murphy. The results suggest both that the model does a reasonable job of explaining th...

Multi-tasking for TinyOS

Tasks in TinyOS execute non-preemptively and run to completion, forcing programmers to keep individual tasks short and spread lengthy operations across multiple tasks – a major divergence from conventional programming paradigms. This report documents our attempt to incorporate multi-tasking into TinyOS and its subsequent effect on power consumption of “motes”. We succeeded in modifying the Tiny...

Contests with multi-tasking

Executive ownership, corporate value, and executive compensation: A unifying framework

This study presents an integrated investigation into the factors affecting executive ownership, the market value of the finn, and executive compensation by explicitly incorporating the simultaneity of the process determining these variables into the empirical estimation, Overall, the results of the study support the notion that a f inn's market value, executive stock ownership, and executive co...