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Macroeconomics: Consumption, Saving, Production, Employment, and Investment x Corporate Governance x Information, Knowledge, and Uncertainy x clear all

Optimal Executive Compensation when Firm Size Follows Geometric Brownian Motion

Zhiguo He.

in The Review of Financial Studies

February 2009; p ublished online April 2008 .

Journal Article. Subjects: Corporate Governance; Information, Knowledge, and Uncertainy; Macroeconomics: Consumption, Saving, Production, Employment, and Investment. 18004 words.

This paper studies a continuous-time agency model in which the agent controls the drift of the geometric Brownian motion firm size. The changing firm size generates partial incentives,...

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Policy Uncertainty and Corporate Investment

Huseyin Gulen and Mihai Ion.

in The Review of Financial Studies

March 2016; p ublished online September 2015 .

Journal Article. Subjects: Information, Knowledge, and Uncertainy; Macroeconomics: Consumption, Saving, Production, Employment, and Investment; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Financial Regulation; Corporate Governance; Corporate Regulation. 17098 words.

Using a news-based index of policy uncertainty, we document a strong negative relationship between firm-level capital investment and the aggregate level of uncertainty associated with...

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