Disclosure of Executive Compensation Contracts: An Economic Analysis (original) (raw)

2000

Abstract

Disclosure of executive,compensation,schemes,has been,made,mandatory over the past decade in many,countries including the UK and the US. Firms however,tend not to fully disclose the functional form of their executive com- pensation schemes. This paper provides a rationale for the lack of voluntary disclosure by firms. It introduces,a voluntary,disclosure model,in which,executive compen- sation solves a moral hazard problem, the resolution of

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