The Value-Extracting CEO: How Executive Stock-Based Pay Undermines Investment in Productive Capabilities
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Abstract
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DOI: 10.2139/ssrn.2993933
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Cited by:
- Thomas Ferguson & Benjamin Page & Jacob Rothschild & Jie Chen & Arturo Chang, 2018. "The Economic and Social Roots of Populist Rebellion: Support for Donald Trump in 2016," Working Papers Series 83, Institute for New Economic Thinking.
- Christoph Scherrer, 2021. "The “Nested†Power of TNCs: Smallholders’ Biggest Challenge," Agrarian South: Journal of Political Economy, Centre for Agrarian Research and Education for South, vol. 10(2), pages 391-403, August.
- Teresa Ghilarducci & Zachary Knauss & Richard McGahey & William Milberg & Drew Landes & Edward Nilaj, 2021. "The Future of Heterodox Economics," SCEPA working paper series. 2021-01, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.
- Rita Vieira & Graça Azevedo & Jonas Oliveira, 2024. "Systematic review in financialization politics: the role of corporate governance and managerial compensation," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 21(3), pages 376-405, September.
- Minniti, Maria & Naudé, Wim & Stam, Erik, 2023. "Is Productive Entrepreneurship Getting Scarcer? A Reflection on the Contemporary Relevance of Baumol's Typology," IZA Discussion Papers 16408, Institute of Labor Economics (IZA).
- Thomas Ferguson & Paul Jorgensen & Jie Chen, 2018. "Industrial Structure and Party Competition in an Age of Hunger Games:Donald Trump and the 2016 Presidential Election Donald Trump and the 2016 Presidential Election," Working Papers Series 66, Institute for New Economic Thinking.
- Jang-Sup Shin, 2018. "The Subversion of Shareholder Democracy and the Rise of Hedge-Fund Activism," Working Papers Series 77, Institute for New Economic Thinking.
- Stuart Holland & Andrew Black, 2018. "Cherchez la Firme: Redressing the Missing – Meso – Middle in Mainstream Economics," Economic Thought, World Economics Association, vol. 7(2), pages 15-53, November.
More about this item
Keywords
Corporation; senior executive; stock-based compensation; stock prices; stock buybacks; innovation; speculation; manipulation; innovation theory; agency theory; shareholder-value ideology;All these keywords.
JEL classification:
- D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
- D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
- D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
- G35 - Financial Economics - - Corporate Finance and Governance - - - Payout Policy
- J33 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Compensation Packages; Payment Methods
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