Too Risky to Hold? The Effect of Downside Risk, Accumulated Equity Wealth, and Firm Performance on CEO Equity Reduction
Although the alignment effect of equity ownership is often studied with emphasis on changes in firm strategy, the exposure of CEOs' firm-specific wealth to firm risk is more easily controlled by changing their level of equity holdings than by changing firm strategic risk. We rely on prospect th...
| Veröffentlicht in: | Organization Science. in. - Institute for Operations Research and the Management Sciences. - 19(2008), 4, Seite 567-580 |
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| Format: | Online-Aufsatz |
| Sprache: | English |
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2008
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| Zugriff auf das übergeordnete Werk: | Organization Science. in |
| Schlagworte: | Agency theory Prospect theory Behavioral theory of the firm Equity ownership Downside risk CEO Economics Business Behavioral sciences |
| Online verfügbar |
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