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Please use this identifier to cite or link to this item: http://hdl.handle.net/1893/12011
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dc.contributor.authorKabir, Rezaulen_UK
dc.contributor.authorLi, Haoen_UK
dc.contributor.authorVeld-Merkoulova, Yulia Ven_UK
dc.date.accessioned2013-11-05T00:57:21Z-
dc.date.available2013-11-05T00:57:21Z-
dc.date.issued2013-02-28en_UK
dc.identifier.urihttp://hdl.handle.net/1893/12011-
dc.description.abstractThis study examines how different components of executive compensation affect the cost of debt. We find that debt-like and equity-like pay components have differing effects: an increase in defined benefit pensions is associated with lower bond yield spread, while higher share holdings lead to higher spreads. In addition, we find that stock options have a mixed impact on the cost of debt whereas cash bonus has no significant impact. Overall, our results indicate that corporate bondholders are fully aware of both risk-taking and risk-avoiding incentives created by various executive pay components.en_UK
dc.language.isoenen_UK
dc.publisherSocial Science Research Networken_UK
dc.relationKabir R, Li H & Veld-Merkoulova YV (2013) Executive Compensation and the Cost of Debt. SSRN Working Paper Series, 1537318. http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1537318en_UK
dc.relation.ispartofseriesSSRN Working Paper Series, 1537318en_UK
dc.rightsAuthors retain copyright.en_UK
dc.subjectExecutive compensationen_UK
dc.subjectCEO payen_UK
dc.subjectCost of debten_UK
dc.subjectYield spreaden_UK
dc.titleExecutive Compensation and the Cost of Debten_UK
dc.typeWorking Paperen_UK
dc.citation.publicationstatusUnpublisheden_UK
dc.type.statusVoR - Version of Recorden_UK
dc.identifier.urlhttp://papers.ssrn.com/sol3/papers.cfm?abstract_id=1537318en_UK
dc.author.emailj.w.veld-merkoulova@stir.ac.uken_UK
dc.contributor.affiliationAccounting & Financeen_UK
dc.contributor.affiliationUniversity of Stirlingen_UK
dc.contributor.affiliationAccounting & Financeen_UK
dc.identifier.wtid714718en_UK
dcterms.dateAccepted2013-02-28en_UK
dc.date.filedepositdate2013-04-17en_UK
rioxxterms.typeWorking paperen_UK
rioxxterms.versionVoRen_UK
local.rioxx.authorKabir, Rezaul|en_UK
local.rioxx.authorLi, Hao|en_UK
local.rioxx.authorVeld-Merkoulova, Yulia V|en_UK
local.rioxx.projectInternal Project|University of Stirling|https://isni.org/isni/0000000122484331en_UK
local.rioxx.freetoreaddate2013-04-17en_UK
local.rioxx.licencehttp://www.rioxx.net/licenses/under-embargo-all-rights-reserved||2013-04-17en_UK
local.rioxx.licencehttp://www.rioxx.net/licenses/all-rights-reserved|2013-04-17|en_UK
local.rioxx.filenameVeld-Merkoulova_2013_Executive_Compensation.pdfen_UK
local.rioxx.filecount1en_UK
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