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[해외논문] Incentive Compensation and the Stock Price Response to Dividend Increase Announcements

The Financial review : the official publication of the Eastern Finance Association, v.35 no.4, 2000년, pp.69 - 94  

Lippert, Robert L. ,  Nixon, Terry D. ,  Pilotte, Eugene A.

Abstract AI-Helper 아이콘AI-Helper

AbstractLinking executive compensation to stock price performance is predicted to decrease the usual positive price response to dividend increases for two reasons. One, increasing pay‐performance sensitivity (PPS) exacerbates managers' optimistic bias regarding future firm performance, reduci...

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