While extensive research examines the relation between option incentives in executive compensation and risk-taking by managers, the impact of capital structure

This paper studies the relation between option-based compensation grants and managerial risk-taking behavior. We examine risk-shifting in stock and asset risk,

Executive stock options as a form of managerial compensation have come under intense scrutiny in recent months. Agency theory has held that options granted to e

Corporate Payout Policy synthesizes the academic research on payout policy and explains "how much, when, and how". That is (i) the overall value of payouts over

We present evidence of a risk-taking channel of monetary policy for the U.S. banking system. We use confidential data on the internal ratings of U.S. banks on l