Stock-Related Compensation and Product-Market Competition
نویسندگان
چکیده
منابع مشابه
Stock-related compensation and product-market competition
I show that as long as the stock market has perfect foresight, profits are distributed as dividends, and incentives are paid more than once or are deferred, stock-related compensation packages are strong incentives for managers to support tacit collusive agreements in repeated oligopolies. The stock market anticipates the losses from punishment phases and discounts them on stock prices, reducin...
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ژورنال
عنوان ژورنال: The RAND Journal of Economics
سال: 2000
ISSN: 0741-6261
DOI: 10.2307/2601027