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- Publications
- Influence
Economics of Strategy
- David Besanko, D. Dranove, M. Shanley, S. Schaefer
- Business, Economics
- 15 December 1995
Introduction. Strategy and Economics. Part One. Economic Foundations of Strategy. Chapter 1. Basic Microeconomic Principles. Chapter 2. Economies of Scale and Scope. Chapter 3. Agency and… Expand
- 1,177
- 47
Why Do Some Firms Give Stock Options to All Employees?: An Empirical Examination of Alternative Theories
- P. Oyer, S. Schaefer
- Computer Science, Economics
- 1 January 2004
TLDR
Implicit Contracts and the Explanatory Power of Top Executive Compensation for Future Performance
- Rachel M. Hayes, S. Schaefer
- Economics
- 1 November 1997
Recent research suggests that implicit incentive contracts may be based on performance measures that are observable only to the contracting parties. We derive and test implications of this insight… Expand
How Much Are Differences in Managerial Ability Worth
- R. Hayes, S. Schaefer
- Economics
- 14 January 1999
This paper attempts to measure how much differences in managerial ability can affect firms' values. If transaction costs or firm specific human capital prevent the firm and CEO from recontracting to… Expand
The Dependence of payPerformance Sensitivity on the Size of the Firm
- S. Schaefer
- Economics
- Review of Economics and Statistics
- 13 August 1998
I analyze the relationship between firm size and the extent to which executive compensation depends on the wealth of the firm's shareholders. I use a simple agency model to motivate an econometric… Expand
Why Do Managers Undertake Acquisitions? An Analysis of Internal and External Rewards for Acquisitiveness
- Christopher Avery, J. Chevalier, S. Schaefer
- Business
- 16 February 1998
We study the effect of a firm's acquisitions on the subsequent career of its chief executive officer (CEO) by examining a sample of executives who undertook large acquisitions between 1986 and 1988.… Expand
Personnel Economics: Hiring and Incentives
- P. Oyer, S. Schaefer
- Economics
- 1 May 2010
We survey the Personnel Economics literature, focusing on how firms establish, maintain, and end employment relationships and on how firms provide incentives to employees. This literature has been… Expand
Why Do Some Firms Give Stock Options to All Employees?: An Empirical Examination of Alternative Theories
- P. Oyer, S. Schaefer
- Economics
- 1 April 2005
Many firms issue stock options to all employees. We consider three potential economic justifications for this practice: providing incentives to employees, inducing employees to sort, and helping… Expand
CEO Pay and the Lake Wobegon Effect
- S. Schaefer, Rachel M. Hayes
- 11 December 2008
The "Lake Wobegon Effect," which is widely cited as a potential cause for rising CEO pay, is said to occur because no firm wants to admit to having a CEO who is below average, and so no firm allows… Expand
Sorting, Quotas, and the Civil Rights Act of 1991: Who Hires When it's Hard to Fire?
- P. Oyer, S. Schaefer
- Computer Science
- 1 February 2001
TLDR