Discussion of Explicit relative performance evaluation in performance-vested equity grants
成果类型：
Editorial Material
署名作者：
Ferri, Fabrizio
署名单位：
Harvard University
刊物名称：
REVIEW OF ACCOUNTING STUDIES
ISSN/ISSBN：
1380-6653
DOI：
10.1007/s11142-009-9092-9
发表日期：
2009
页码：
307-313
关键词：
摘要：
Carter, Ittner and Zechman (2009) examine the use of explicit relative performance evaluation (RPE) conditions in performance-vested equity plans in a sample of United Kingdom (U.K.) firms in 2002. They find that factors suggested by economic theories (for example, removal of common shocks, tournament theory) are more closely associated with specific features of the plan than with the firm-level decision to use an RPE equity plan. My discussion focuses on the interpretation of these findings and the opportunities and implications for future research. I also summarize the views of five U.K. directors who were involved in the design and use of performance-vested equity plans.
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