Essays on incentive contracts, M&As, and firm risk

Suwei An

Research output: ThesisDoctoral Thesis

324 Downloads (Pure)

Abstract

The three essays collected in this PhD dissertation concern agency costs, incentive contracts, mergers and acquisitions, and firm risk. The first essay demonstrates that manager sentiment, a managerial trait proxy for managerial optimism, can incur agency costs. The second and third essays state incentive contracts as an effective way to suppress agency problems and reduce agency costs. Specifically, the second essay demonstrates that firms using relative performance evaluation exhibit lower stock price crash risk and the third essay finds that relative performance evaluation increases long-term acquisition performance.
Original languageEnglish
QualificationDoctor of Philosophy
Awarding Institution
  • Tilburg University
Supervisors/Advisors
  • Baele, Lieven, Promotor
  • Tan, X., Promotor, External person
  • Wu, Kai, Co-promotor, External person
Award date17 Feb 2023
Place of PublicationTilburg
Publisher
Print ISBNs978 90 5668 699 4
DOIs
Publication statusPublished - 2023

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