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Optimal Compensation Contracts with Pay-For-Performance and Termination Incentives

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  • Greg Hallman
  • Jay C. Hartzell

Abstract

This paper studies optimal compensation contracts in the presence of both pay-for-performance and termination incentives. While these incentives have been studied independently, this paper’s model is the first to incorporate both. The primary result is

Suggested Citation

  • Greg Hallman & Jay C. Hartzell, 1999. "Optimal Compensation Contracts with Pay-For-Performance and Termination Incentives," New York University, Leonard N. Stern School Finance Department Working Paper Seires 99-053, New York University, Leonard N. Stern School of Business-.
    • Handle: RePEc:fth:nystfi:99-053
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    File URL: http://www.stern.nyu.edu/fin/workpapers/papers99/wpa99053.pdf
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    References listed on IDEAS

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