SUBSTANCE AND SYMBOLISM IN CEOS'LONG-TERM INCENTIVE PLANS.
JD Westphal, EJ Zajac - Academy of Management Proceedings, 1993 - journals.aom.org
Academy of Management Proceedings, 1993•journals.aom.org
This longitudinal study examines the economic and behavioral determinants of long-term
incentive plans (LTIPS). We find that:(1) firms with powerful CEOs are more likely to
announce LTIPs but less likely to actually use them; and (2) while early adopters of LTIPs
are motivated by performance goals, later adopters are not.
incentive plans (LTIPS). We find that:(1) firms with powerful CEOs are more likely to
announce LTIPs but less likely to actually use them; and (2) while early adopters of LTIPs
are motivated by performance goals, later adopters are not.
This longitudinal study examines the economic and behavioral determinants of long-term incentive plans (LTIPS). We find that: (1) firms with powerful CEOs are more likely to announce LTIPs but less likely to actually use them; and (2) while early adopters of LTIPs are motivated by performance goals, later adopters are not.