performance bonds

Publication date: 24 Feb 2012 | Publication type: NIESR Discussion Paper | Theme: Trade, Investment & Productivity, Employment & Social policy | Authors: Bryson, A, Forth, J | External authors: Zhou, M. | JEL classification: G34; J31; J33; M12; M52; O16; P31 | NIESR discussion paper number: 389
Despite their theoretical value in tackling principal-agent problems at low cost to firms there is almost no empirical literature on the prevalence and correlates of performance bonds posted by corporate executives. Using data for China we examine their incidence and test propositions from...