English, Article, Journal or magazine article edition: Endogenous Strategic Managerial Incentive Contracts Constantine Manasakis; Evangelos Mitrokostas; Emmanuel Petrakis

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Bookmark: http://trove.nla.gov.au/version/77008
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Endogenous Strategic Managerial Incentive Contracts
Author
  • Constantine Manasakis
  • Evangelos Mitrokostas
  • Emmanuel Petrakis
Physical Description
  • preprint
Notes
  • This paper studies the endogenous structure of incentive contracts that firms' owners offer to their managers, when these contracts are linear combinations either of own profits and own revenues, or of own profits and competitor's profits or, finally, of own profits and own market share. In equilibrium, each owner has a dominant strategy to reward his manager with a contract combining own profits and competitor's profits. Contrary to the received literature, the case where there is no ex-ante commitment over any type of contract that each owner offers to his manager is also examined. In equilibrium, each type of contract is an owner's best response to the competing owner's choice.
  • Oligopoly; Managerial delegation; Endogenous contracts
  • RePEc:crt:wpaper:0706
Language
  • English
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