Antoni Vaello-Sebastià

We don’t have enough information about this author to calculate their statistics. If you think this is an error let us know.
Learn More
We study policies that regulate executive compensation in a model that jointly determines executives’effort, compensation and firm leverage. The market failure that justifies regulation is that executives are optimistic about asset prices in states of distress. We show that shareholders propose compensation packages that lead to socially excessive leverage.(More)
  • 1