期刊名称：Discussion Papers / Norwegian School of Economics and Business Administration
印刷版ISSN：0804-6824
出版年度：2012
卷号：2012
出版社：Bergen
摘要：Talented managers may leave the rm in order to work elsewhere. Focusing on the portability of managersresources, we develop a model in which managerial compensation is designed to prevent ine¢ cient departure. The model rationalizes the widespread use of at salaries in combination with performance-vesting stock options and is consistent with observed di¤erences in compensation contracts across individuals, rms, industries, and countries.
