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Executive Compensation

“Empire-Builders and Shirkers: Investment, Firm-Performance, and Managerial Incentives,” Journal of Corporate Finance 12 (June 2006), 489-515 (with Rajesh Aggarwal). [NBER Working Paper 7335]

“Performance Incentives Within Firms: The Effect of Managerial Responsibility,” Journal of Finance 58 (August 2003), 1613-1649(with Rajesh Aggarwal). [NBER Working Paper 7334]

“Why Do Managers Diversify Their Firms? Agency Reconsidered,” Journal of Finance 58 (February 2003), 71-118 (with Rajesh Aggarwal).

“Executive Compensation, Strategic Competition, and Relative Performance Evaluation: Theory and Evidence,” Journal of Finance 54 (December 1999), 1999-2043. (with Rajesh Aggarwal) [NBER Working Paper 5648]

“The Other Side of the Tradeoff: The Impact of Risk on Executive Compensation,” Journal of Political Economy 107 (February 1999), 65-105 (with Rajesh Aggarwal). [NBER Working Paper 6634]

  • “The Other Side of the Tradeoff: The Impact of Risk on Executive Compensation—A Reply,” Manuscript, October 2002.  [Note: The comment by John Core and Wayne Guay to which this reply is addressed is available here.]