TY  - BOOK
AU  - Bolton,Patrick
AU  - Scheinkman,Jose
AU  - Xiong,Wei
ED  - National Bureau of Economic Research.
TI  - Pay for Short-Term Performance: Executive Compensation in Speculative Markets 
T2  - NBER working paper series
PY  - 2006///
CY  - Cambridge, Mass.
PB  - National Bureau of Economic Research
N1  - March 2006; Hardcopy version available to institutional subscribers
N2  - We argue that the root cause behind the recent corporate scandals associated with CEO pay is the technology bubble of the latter half of the 1990s. Far from rejecting the optimal incentive contracting theory of executive compensation, the recent evidence on executive pay can be reconciled with classical agency theory once one expands the framework to allow for speculative stock markets
UR  - https://www.nber.org/papers/w12107
UR  - http://dx.doi.org/10.3386/w12107
ER  -