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Equity Vesting and InvestmentAlex Edmans, Katharina A. Lewellen, Vivian W. Fang2017-12-18T05:00:00ZThis paper studies the link between real investment decisions and CEO’s short-term stock price concerns. It finds that vesting equity induces CEOs to reduce investments in long-term projects and to take actions that increase short-term stock price. More broadly, it shows that that the structure of CEO compensation has a causal effect on real-world decisions.<p><a target="_blank" href="/IIRCiResearchDocuments/2017/12/12-Edmans-Fang-Lewellen-Equity-Vesting-and-Investment-1.pdf">View Full Report</a></p> <p><a target="_blank" href="/irrci/news/476">View Press Release</a></p> <p><a target="_blank" href="https://www.youtube.com/watch?v=_UObbSCwfLM&t=293s">View Webinar</a></p> <p><a target="_blank" href="/IIRCiResearchDocuments/2017/12/IRRC-Webinar-Feb-2018.pdf">View Webinar Slides</a></p>

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