The golden mean : the risk-mitigating effect of combining tournament rewards with high-powered incentives

Gespeichert in:

Autor*in:	Jin, Dunhong [verfasserIn] Noe, Thomas H. [verfasserIn]

Format:	E-Artikel
Sprache:	Englisch

Erschienen:	2022

Schlagwörter:	Leistungsanreiz / Leistungsentgelt / Führungskräfte / Risikofreude / Theorie

Übergeordnetes Werk:	Enthalten in: The journal of finance - Berkeley, Calif. : AFA, 1946, 77(2022), 5 vom: Okt., Seite 2907-2947
Übergeordnetes Werk:	volume:77 ; year:2022 ; number:5 ; month:10 ; pages:2907-2947

Links:	Link aufrufen Link aufrufen

DOI / URN:	10.1111/jofi.13169

Katalog-ID:	181903643X

Internformat


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Indexfelder

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publishDate	2022
allfields	10.1111/jofi.13169 doi (DE-627)181903643X (DE-599)KXP181903643X DE-627 ger DE-627 rda eng Jin, Dunhong verfasserin (DE-588)120400983X (DE-627)1689066458 aut The golden mean the risk-mitigating effect of combining tournament rewards with high-powered incentives Dunhong Jin and Thomas Noe 2022 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier 1.1\x Leistungsanreiz (DE-627)091374960 (DE-2867)11052-5 stw 1.2\x Leistungsentgelt (DE-627)091375010 (DE-2867)12594-6 stw 1.3\x Führungskräfte (DE-627)091361532 (DE-2867)11302-1 stw 1.4\x Risikofreude (DE-627)091386861 (DE-2867)15478-0 stw 1.5\x Theorie (DE-627)091394902 (DE-2867)19073-6 stw Noe, Thomas H. verfasserin (DE-588)170761908 (DE-627)06089301X (DE-576)131616455 aut Enthalten in The journal of finance Berkeley, Calif. : AFA, 1946 77(2022), 5 vom: Okt., Seite 2907-2947 Online-Ressource (DE-627)31195135X (DE-600)2010241-0 (DE-576)090954858 1540-6261 nnns volume:77 year:2022 number:5 month:10 pages:2907-2947 https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/jofi.13169 Verlag lizenzpflichtig https://doi.org/10.1111/jofi.13169 Resolving-System lizenzpflichtig GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_32 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_74 GBV_ILN_90 GBV_ILN_95 GBV_ILN_100 GBV_ILN_105 GBV_ILN_110 GBV_ILN_120 GBV_ILN_138 GBV_ILN_150 GBV_ILN_151 GBV_ILN_152 GBV_ILN_161 GBV_ILN_170 GBV_ILN_171 GBV_ILN_184 GBV_ILN_187 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_266 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_374 GBV_ILN_602 GBV_ILN_636 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2003 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2006 GBV_ILN_2007 GBV_ILN_2008 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2015 GBV_ILN_2018 GBV_ILN_2020 GBV_ILN_2021 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2031 GBV_ILN_2034 GBV_ILN_2037 GBV_ILN_2038 GBV_ILN_2039 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2049 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2057 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2064 GBV_ILN_2068 GBV_ILN_2088 GBV_ILN_2093 GBV_ILN_2106 GBV_ILN_2107 GBV_ILN_2108 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2112 GBV_ILN_2113 GBV_ILN_2118 GBV_ILN_2119 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2144 GBV_ILN_2147 GBV_ILN_2148 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2190 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2472 GBV_ILN_2507 GBV_ILN_2522 GBV_ILN_2548 GBV_ILN_2932 GBV_ILN_2940 GBV_ILN_2949 GBV_ILN_2950 GBV_ILN_4012 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4046 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4242 GBV_ILN_4246 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4335 GBV_ILN_4336 GBV_ILN_4338 GBV_ILN_4346 GBV_ILN_4393 GBV_ILN_4700 AR 77 2022 5 10 2907-2947 26 01 0206 4197987692 x1z 17-10-22 26 00 DE-206 The rewards received by financial managers depend on both relative performance(e.g., fund inflows based on fund rankings, promotions based on peer comparisons)and absolute performance (e.g., bonus payments for meeting accounting targets,hedge-fund incentive fees). Both relative and absolute performance rewards engen-der risk-taking. In this paper, we show that these two sources of risk-taking, relativeand absolute performance rewards, mitigate the risk-taking incentives produced bythe other. This mutual incentive-reduction effect generates a number of novel predic-tions about the relationship of managerial risk-taking with the structure of relativeand absolute performance rewards.
spelling	10.1111/jofi.13169 doi (DE-627)181903643X (DE-599)KXP181903643X DE-627 ger DE-627 rda eng Jin, Dunhong verfasserin (DE-588)120400983X (DE-627)1689066458 aut The golden mean the risk-mitigating effect of combining tournament rewards with high-powered incentives Dunhong Jin and Thomas Noe 2022 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier 1.1\x Leistungsanreiz (DE-627)091374960 (DE-2867)11052-5 stw 1.2\x Leistungsentgelt (DE-627)091375010 (DE-2867)12594-6 stw 1.3\x Führungskräfte (DE-627)091361532 (DE-2867)11302-1 stw 1.4\x Risikofreude (DE-627)091386861 (DE-2867)15478-0 stw 1.5\x Theorie (DE-627)091394902 (DE-2867)19073-6 stw Noe, Thomas H. verfasserin (DE-588)170761908 (DE-627)06089301X (DE-576)131616455 aut Enthalten in The journal of finance Berkeley, Calif. : AFA, 1946 77(2022), 5 vom: Okt., Seite 2907-2947 Online-Ressource (DE-627)31195135X (DE-600)2010241-0 (DE-576)090954858 1540-6261 nnns volume:77 year:2022 number:5 month:10 pages:2907-2947 https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/jofi.13169 Verlag lizenzpflichtig https://doi.org/10.1111/jofi.13169 Resolving-System lizenzpflichtig GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_32 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_74 GBV_ILN_90 GBV_ILN_95 GBV_ILN_100 GBV_ILN_105 GBV_ILN_110 GBV_ILN_120 GBV_ILN_138 GBV_ILN_150 GBV_ILN_151 GBV_ILN_152 GBV_ILN_161 GBV_ILN_170 GBV_ILN_171 GBV_ILN_184 GBV_ILN_187 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_266 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_374 GBV_ILN_602 GBV_ILN_636 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2003 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2006 GBV_ILN_2007 GBV_ILN_2008 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2015 GBV_ILN_2018 GBV_ILN_2020 GBV_ILN_2021 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2031 GBV_ILN_2034 GBV_ILN_2037 GBV_ILN_2038 GBV_ILN_2039 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2049 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2057 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2064 GBV_ILN_2068 GBV_ILN_2088 GBV_ILN_2093 GBV_ILN_2106 GBV_ILN_2107 GBV_ILN_2108 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2112 GBV_ILN_2113 GBV_ILN_2118 GBV_ILN_2119 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2144 GBV_ILN_2147 GBV_ILN_2148 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2190 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2472 GBV_ILN_2507 GBV_ILN_2522 GBV_ILN_2548 GBV_ILN_2932 GBV_ILN_2940 GBV_ILN_2949 GBV_ILN_2950 GBV_ILN_4012 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4046 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4242 GBV_ILN_4246 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4335 GBV_ILN_4336 GBV_ILN_4338 GBV_ILN_4346 GBV_ILN_4393 GBV_ILN_4700 AR 77 2022 5 10 2907-2947 26 01 0206 4197987692 x1z 17-10-22 26 00 DE-206 The rewards received by financial managers depend on both relative performance(e.g., fund inflows based on fund rankings, promotions based on peer comparisons)and absolute performance (e.g., bonus payments for meeting accounting targets,hedge-fund incentive fees). Both relative and absolute performance rewards engen-der risk-taking. In this paper, we show that these two sources of risk-taking, relativeand absolute performance rewards, mitigate the risk-taking incentives produced bythe other. This mutual incentive-reduction effect generates a number of novel predic-tions about the relationship of managerial risk-taking with the structure of relativeand absolute performance rewards.
allfields_unstemmed	10.1111/jofi.13169 doi (DE-627)181903643X (DE-599)KXP181903643X DE-627 ger DE-627 rda eng Jin, Dunhong verfasserin (DE-588)120400983X (DE-627)1689066458 aut The golden mean the risk-mitigating effect of combining tournament rewards with high-powered incentives Dunhong Jin and Thomas Noe 2022 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier 1.1\x Leistungsanreiz (DE-627)091374960 (DE-2867)11052-5 stw 1.2\x Leistungsentgelt (DE-627)091375010 (DE-2867)12594-6 stw 1.3\x Führungskräfte (DE-627)091361532 (DE-2867)11302-1 stw 1.4\x Risikofreude (DE-627)091386861 (DE-2867)15478-0 stw 1.5\x Theorie (DE-627)091394902 (DE-2867)19073-6 stw Noe, Thomas H. verfasserin (DE-588)170761908 (DE-627)06089301X (DE-576)131616455 aut Enthalten in The journal of finance Berkeley, Calif. : AFA, 1946 77(2022), 5 vom: Okt., Seite 2907-2947 Online-Ressource (DE-627)31195135X (DE-600)2010241-0 (DE-576)090954858 1540-6261 nnns volume:77 year:2022 number:5 month:10 pages:2907-2947 https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/jofi.13169 Verlag lizenzpflichtig https://doi.org/10.1111/jofi.13169 Resolving-System lizenzpflichtig GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_32 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_74 GBV_ILN_90 GBV_ILN_95 GBV_ILN_100 GBV_ILN_105 GBV_ILN_110 GBV_ILN_120 GBV_ILN_138 GBV_ILN_150 GBV_ILN_151 GBV_ILN_152 GBV_ILN_161 GBV_ILN_170 GBV_ILN_171 GBV_ILN_184 GBV_ILN_187 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_266 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_374 GBV_ILN_602 GBV_ILN_636 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2003 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2006 GBV_ILN_2007 GBV_ILN_2008 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2015 GBV_ILN_2018 GBV_ILN_2020 GBV_ILN_2021 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2031 GBV_ILN_2034 GBV_ILN_2037 GBV_ILN_2038 GBV_ILN_2039 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2049 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2057 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2064 GBV_ILN_2068 GBV_ILN_2088 GBV_ILN_2093 GBV_ILN_2106 GBV_ILN_2107 GBV_ILN_2108 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2112 GBV_ILN_2113 GBV_ILN_2118 GBV_ILN_2119 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2144 GBV_ILN_2147 GBV_ILN_2148 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2190 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2472 GBV_ILN_2507 GBV_ILN_2522 GBV_ILN_2548 GBV_ILN_2932 GBV_ILN_2940 GBV_ILN_2949 GBV_ILN_2950 GBV_ILN_4012 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4046 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4242 GBV_ILN_4246 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4335 GBV_ILN_4336 GBV_ILN_4338 GBV_ILN_4346 GBV_ILN_4393 GBV_ILN_4700 AR 77 2022 5 10 2907-2947 26 01 0206 4197987692 x1z 17-10-22 26 00 DE-206 The rewards received by financial managers depend on both relative performance(e.g., fund inflows based on fund rankings, promotions based on peer comparisons)and absolute performance (e.g., bonus payments for meeting accounting targets,hedge-fund incentive fees). Both relative and absolute performance rewards engen-der risk-taking. In this paper, we show that these two sources of risk-taking, relativeand absolute performance rewards, mitigate the risk-taking incentives produced bythe other. This mutual incentive-reduction effect generates a number of novel predic-tions about the relationship of managerial risk-taking with the structure of relativeand absolute performance rewards.
allfieldsGer	10.1111/jofi.13169 doi (DE-627)181903643X (DE-599)KXP181903643X DE-627 ger DE-627 rda eng Jin, Dunhong verfasserin (DE-588)120400983X (DE-627)1689066458 aut The golden mean the risk-mitigating effect of combining tournament rewards with high-powered incentives Dunhong Jin and Thomas Noe 2022 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier 1.1\x Leistungsanreiz (DE-627)091374960 (DE-2867)11052-5 stw 1.2\x Leistungsentgelt (DE-627)091375010 (DE-2867)12594-6 stw 1.3\x Führungskräfte (DE-627)091361532 (DE-2867)11302-1 stw 1.4\x Risikofreude (DE-627)091386861 (DE-2867)15478-0 stw 1.5\x Theorie (DE-627)091394902 (DE-2867)19073-6 stw Noe, Thomas H. verfasserin (DE-588)170761908 (DE-627)06089301X (DE-576)131616455 aut Enthalten in The journal of finance Berkeley, Calif. : AFA, 1946 77(2022), 5 vom: Okt., Seite 2907-2947 Online-Ressource (DE-627)31195135X (DE-600)2010241-0 (DE-576)090954858 1540-6261 nnns volume:77 year:2022 number:5 month:10 pages:2907-2947 https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/jofi.13169 Verlag lizenzpflichtig https://doi.org/10.1111/jofi.13169 Resolving-System lizenzpflichtig GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_32 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_74 GBV_ILN_90 GBV_ILN_95 GBV_ILN_100 GBV_ILN_105 GBV_ILN_110 GBV_ILN_120 GBV_ILN_138 GBV_ILN_150 GBV_ILN_151 GBV_ILN_152 GBV_ILN_161 GBV_ILN_170 GBV_ILN_171 GBV_ILN_184 GBV_ILN_187 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_266 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_374 GBV_ILN_602 GBV_ILN_636 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2003 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2006 GBV_ILN_2007 GBV_ILN_2008 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2015 GBV_ILN_2018 GBV_ILN_2020 GBV_ILN_2021 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2031 GBV_ILN_2034 GBV_ILN_2037 GBV_ILN_2038 GBV_ILN_2039 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2049 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2057 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2064 GBV_ILN_2068 GBV_ILN_2088 GBV_ILN_2093 GBV_ILN_2106 GBV_ILN_2107 GBV_ILN_2108 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2112 GBV_ILN_2113 GBV_ILN_2118 GBV_ILN_2119 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2144 GBV_ILN_2147 GBV_ILN_2148 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2190 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2472 GBV_ILN_2507 GBV_ILN_2522 GBV_ILN_2548 GBV_ILN_2932 GBV_ILN_2940 GBV_ILN_2949 GBV_ILN_2950 GBV_ILN_4012 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4046 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4242 GBV_ILN_4246 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4335 GBV_ILN_4336 GBV_ILN_4338 GBV_ILN_4346 GBV_ILN_4393 GBV_ILN_4700 AR 77 2022 5 10 2907-2947 26 01 0206 4197987692 x1z 17-10-22 26 00 DE-206 The rewards received by financial managers depend on both relative performance(e.g., fund inflows based on fund rankings, promotions based on peer comparisons)and absolute performance (e.g., bonus payments for meeting accounting targets,hedge-fund incentive fees). Both relative and absolute performance rewards engen-der risk-taking. In this paper, we show that these two sources of risk-taking, relativeand absolute performance rewards, mitigate the risk-taking incentives produced bythe other. This mutual incentive-reduction effect generates a number of novel predic-tions about the relationship of managerial risk-taking with the structure of relativeand absolute performance rewards.
allfieldsSound	10.1111/jofi.13169 doi (DE-627)181903643X (DE-599)KXP181903643X DE-627 ger DE-627 rda eng Jin, Dunhong verfasserin (DE-588)120400983X (DE-627)1689066458 aut The golden mean the risk-mitigating effect of combining tournament rewards with high-powered incentives Dunhong Jin and Thomas Noe 2022 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier 1.1\x Leistungsanreiz (DE-627)091374960 (DE-2867)11052-5 stw 1.2\x Leistungsentgelt (DE-627)091375010 (DE-2867)12594-6 stw 1.3\x Führungskräfte (DE-627)091361532 (DE-2867)11302-1 stw 1.4\x Risikofreude (DE-627)091386861 (DE-2867)15478-0 stw 1.5\x Theorie (DE-627)091394902 (DE-2867)19073-6 stw Noe, Thomas H. verfasserin (DE-588)170761908 (DE-627)06089301X (DE-576)131616455 aut Enthalten in The journal of finance Berkeley, Calif. : AFA, 1946 77(2022), 5 vom: Okt., Seite 2907-2947 Online-Ressource (DE-627)31195135X (DE-600)2010241-0 (DE-576)090954858 1540-6261 nnns volume:77 year:2022 number:5 month:10 pages:2907-2947 https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/jofi.13169 Verlag lizenzpflichtig https://doi.org/10.1111/jofi.13169 Resolving-System lizenzpflichtig GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_32 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_74 GBV_ILN_90 GBV_ILN_95 GBV_ILN_100 GBV_ILN_105 GBV_ILN_110 GBV_ILN_120 GBV_ILN_138 GBV_ILN_150 GBV_ILN_151 GBV_ILN_152 GBV_ILN_161 GBV_ILN_170 GBV_ILN_171 GBV_ILN_184 GBV_ILN_187 GBV_ILN_213 GBV_ILN_224 GBV_ILN_230 GBV_ILN_266 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_374 GBV_ILN_602 GBV_ILN_636 GBV_ILN_702 GBV_ILN_2001 GBV_ILN_2003 GBV_ILN_2004 GBV_ILN_2005 GBV_ILN_2006 GBV_ILN_2007 GBV_ILN_2008 GBV_ILN_2009 GBV_ILN_2010 GBV_ILN_2011 GBV_ILN_2014 GBV_ILN_2015 GBV_ILN_2018 GBV_ILN_2020 GBV_ILN_2021 GBV_ILN_2025 GBV_ILN_2026 GBV_ILN_2027 GBV_ILN_2031 GBV_ILN_2034 GBV_ILN_2037 GBV_ILN_2038 GBV_ILN_2039 GBV_ILN_2044 GBV_ILN_2048 GBV_ILN_2049 GBV_ILN_2050 GBV_ILN_2055 GBV_ILN_2056 GBV_ILN_2057 GBV_ILN_2059 GBV_ILN_2061 GBV_ILN_2064 GBV_ILN_2068 GBV_ILN_2088 GBV_ILN_2093 GBV_ILN_2106 GBV_ILN_2107 GBV_ILN_2108 GBV_ILN_2110 GBV_ILN_2111 GBV_ILN_2112 GBV_ILN_2113 GBV_ILN_2118 GBV_ILN_2119 GBV_ILN_2122 GBV_ILN_2129 GBV_ILN_2143 GBV_ILN_2144 GBV_ILN_2147 GBV_ILN_2148 GBV_ILN_2152 GBV_ILN_2153 GBV_ILN_2190 GBV_ILN_2232 GBV_ILN_2336 GBV_ILN_2470 GBV_ILN_2472 GBV_ILN_2507 GBV_ILN_2522 GBV_ILN_2548 GBV_ILN_2932 GBV_ILN_2940 GBV_ILN_2949 GBV_ILN_2950 GBV_ILN_4012 GBV_ILN_4035 GBV_ILN_4037 GBV_ILN_4046 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4242 GBV_ILN_4246 GBV_ILN_4249 GBV_ILN_4251 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4333 GBV_ILN_4334 GBV_ILN_4335 GBV_ILN_4336 GBV_ILN_4338 GBV_ILN_4346 GBV_ILN_4393 GBV_ILN_4700 AR 77 2022 5 10 2907-2947 26 01 0206 4197987692 x1z 17-10-22 26 00 DE-206 The rewards received by financial managers depend on both relative performance(e.g., fund inflows based on fund rankings, promotions based on peer comparisons)and absolute performance (e.g., bonus payments for meeting accounting targets,hedge-fund incentive fees). Both relative and absolute performance rewards engen-der risk-taking. In this paper, we show that these two sources of risk-taking, relativeand absolute performance rewards, mitigate the risk-taking incentives produced bythe other. This mutual incentive-reduction effect generates a number of novel predic-tions about the relationship of managerial risk-taking with the structure of relativeand absolute performance rewards.
language	English
source	Enthalten in The journal of finance 77(2022), 5 vom: Okt., Seite 2907-2947 volume:77 year:2022 number:5 month:10 pages:2907-2947
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topic_facet	Leistungsanreiz Leistungsentgelt Führungskräfte Risikofreude Theorie
sw_local_iln_str_mv	26: DE-206:
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container_title	The journal of finance
authorswithroles_txt_mv	Jin, Dunhong @@aut@@ Noe, Thomas H. @@aut@@
publishDateDaySort_date	2022-10-01T00:00:00Z
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by financial managers depend on both relative performance(e.g., fund inflows based on fund rankings, promotions based on peer comparisons)and absolute performance (e.g., bonus payments for meeting accounting targets,hedge-fund incentive fees). Both relative and absolute performance rewards engen-der risk-taking. In this paper, we show that these two sources of risk-taking, relativeand absolute performance rewards, mitigate the risk-taking incentives produced bythe other. This mutual incentive-reduction effect generates a number of novel predic-tions about the relationship of managerial risk-taking with the structure of relativeand absolute performance rewards.</subfield></datafield></record></collection>
author	Jin, Dunhong
spellingShingle	Jin, Dunhong stw Leistungsanreiz stw Leistungsentgelt stw Führungskräfte stw Risikofreude stw Theorie The golden mean the risk-mitigating effect of combining tournament rewards with high-powered incentives
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topic_title	26 00 DE-206 The rewards received by financial managers depend on both relative performance(e.g., fund inflows based on fund rankings, promotions based on peer comparisons)and absolute performance (e.g., bonus payments for meeting accounting targets,hedge-fund incentive fees). Both relative and absolute performance rewards engen-der risk-taking. In this paper, we show that these two sources of risk-taking, relativeand absolute performance rewards, mitigate the risk-taking incentives produced bythe other. This mutual incentive-reduction effect generates a number of novel predic-tions about the relationship of managerial risk-taking with the structure of relativeand absolute performance rewards The golden mean the risk-mitigating effect of combining tournament rewards with high-powered incentives Dunhong Jin and Thomas Noe 1.1\x Leistungsanreiz (DE-627)091374960 (DE-2867)11052-5 stw 1.2\x Leistungsentgelt (DE-627)091375010 (DE-2867)12594-6 stw 1.3\x Führungskräfte (DE-627)091361532 (DE-2867)11302-1 stw 1.4\x Risikofreude (DE-627)091386861 (DE-2867)15478-0 stw 1.5\x Theorie (DE-627)091394902 (DE-2867)19073-6 stw
topic	stw Leistungsanreiz stw Leistungsentgelt stw Führungskräfte stw Risikofreude stw Theorie
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title	The golden mean the risk-mitigating effect of combining tournament rewards with high-powered incentives
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title_full	The golden mean the risk-mitigating effect of combining tournament rewards with high-powered incentives Dunhong Jin and Thomas Noe
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title_sub	the risk-mitigating effect of combining tournament rewards with high-powered incentives
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title_short	The golden mean
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GND_txtF_mv	Dunhong, Jin Jin, D. Jin Dunhong Jin, Dunhong Noe, Thomas Noe, Thomas H.
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doi_str	10.1111/jofi.13169
up_date	2024-07-05T01:34:31.213Z
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Both relative and absolute performance rewards engen-der risk-taking. In this paper, we show that these two sources of risk-taking, relativeand absolute performance rewards, mitigate the risk-taking incentives produced bythe other. This mutual incentive-reduction effect generates a number of novel predic-tions about the relationship of managerial risk-taking with the structure of relativeand absolute performance rewards.</subfield></datafield></record></collection>
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