CEO stock option pay and R&amp;D spending: a behavioral agency explanation

Wu, Jianfeng; Tu, Rungting

doi:10.1016/j.jbusres.2006.12.006

Cited by 148 publications

(99 citation statements)

References 49 publications

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“…For managerial incentives Wu and Tu (2007) using Computstat data for large research intensive firms find that CEOs high powered compensation can increase R&D under high growth or with high slack, but that does not extend to other types of incentive pay. This limited result is consistent with Eng and Shackell (2001) and Devers et al (2000) who find an effect on CEO risk-taking but only for some forms of equity-based pay.…”

Section: Previous Results Relating Randd To Governance and Ownershipmentioning

confidence: 99%

Research and development, cash flow, agency and governance: UK large companies

Driver¹,

Guedes²

2012

Research Policy

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Section: Previous Results Relating Randd To Governance and Ownershipmentioning

confidence: 99%

Research and development, cash flow, agency and governance: UK large companies

Driver¹,

Guedes²

2012

Research Policy

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show abstract

“…The level of technological innovation of enterprises can be measured by R&D expenditure per capita [30]; the level of technological innovation of enterprises can also be measured by the ratio of R&D expenditure to revenues [31]. The patent situation is important in the analysis of innovation capability [10].…”

Section: Technological Innovation Performancementioning

confidence: 99%

An Empirical Study on Entrepreneurial Orientation, Absorptive Capacity, and SMEs’ Innovation Performance: A Sustainable Perspective

et al. 2018

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Using a survey of 324 small and medium-sized enterprises (SMEs) of the Yangtze River Delta in China, this study discusses the relationship between entrepreneurial orientation, absorptive capacity, environmental dynamism, and corporate technological innovation performance. The results based on a moderated moderation model show that the relationship between entrepreneurial orientation and innovation performance is significantly positive. The absorptive capacity can positively moderate this relationship. When the external environment is in high dynamism, the moderating effect of absorptive capacity will be stronger than when the environment is in low dynamism.

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“…This argument in prior research still constitutes a relevant topic for research and tries to capture the optimal level of ownership and CEO incentive system (i.e. Florackis et al, 2009;Jurkus et al, 2011;Wu and Tu, 2007).…”

Section: Introductionmentioning

confidence: 99%

Does risk matter in CEO compensation contracting? Evidence from US restaurant industry

Özdemir

Kizildag

Upneja

2013

International Journal of Hospitality Management

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a b s t r a c tThe structure of compensation packages of Chief Executive Officers (CEOs) has been a significant research interest for researchers across various disciplines. In this paper, we examine a unique relationship between CEO compensation and risk (systematic risk) in the US restaurant industry. Our research question stems from the assumption that CEOs must be rewarded with a higher incentive-based compensation in high-risk profile restaurant companies in order to motivate them to perform in their full potential for mutual benefits of the CEO and shareowners. Furthermore, we investigate whether firm risk moderates the relationship between firm performance and CEO total compensation controlling for the firm size and CEO ownership. We draw our sample firms from the US restaurant industry. Findings of our study suggest that firm risk induces a higher proportion of incentive-based compensation for restaurant companies' CEOs, and firm risk does not seem to moderate the relationship between pay and performance in the restaurant industry.

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CEO stock option pay and R&D spending: a behavioral agency explanation

Cited by 148 publications

References 49 publications

Research and development, cash flow, agency and governance: UK large companies

Research and development, cash flow, agency and governance: UK large companies

An Empirical Study on Entrepreneurial Orientation, Absorptive Capacity, and SMEs’ Innovation Performance: A Sustainable Perspective

Does risk matter in CEO compensation contracting? Evidence from US restaurant industry

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