{"id":"https://openalex.org/W3125893273","doi":null,"title":"Executive Compensation and the Maturity Structure of Corporate Debt","display_name":"Executive Compensation and the Maturity Structure of Corporate Debt","publication_year":2009,"publication_date":"2009-09-28","ids":{"openalex":"https://openalex.org/W3125893273","mag":"3125893273"},"language":"en","primary_location":{"id":"pmh:oai:digitalcommons.unl.edu:financefacpub-1020","doi":null,"is_oa":false,"landing_page_url":"https://digitalcommons.unl.edu/financefacpub/21","pdf_url":null,"source":{"id":"https://openalex.org/S4306400577","display_name":"Lincoln (University of Nebraska)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I114395901","host_organization_name":"University of Nebraska\u2013Lincoln","host_organization_lineage":["https://openalex.org/I114395901"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Department of Finance: Faculty Publications","raw_type":"text"},"volume":null,"type":"article","indexed_in":[],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1479629","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5086051840","display_name":"Paul Brockman","orcid":"https://orcid.org/0000-0002-4864-7861","observed_orcids":["https://orcid.org/0000-0002-4864-7861"]},"institutions":[{"id":"https://openalex.org/I186143895","display_name":"Lehigh University","ror":"https://ror.org/012afjb06","country_code":"US","type":"education","lineage":["https://openalex.org/I186143895"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Paul Brockman","raw_affiliation_strings":["Lehigh University - College of Business"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Lehigh University - College of Business","institution_ids":["https://openalex.org/I186143895"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5084744419","display_name":"Xiumin Martin","orcid":"https://orcid.org/0000-0001-6453-1132","observed_orcids":["https://orcid.org/0000-0001-6453-1132"]},"institutions":[{"id":"https://openalex.org/I204465549","display_name":"Washington University in St. Louis","ror":"https://ror.org/01yc7t268","country_code":"US","type":"education","lineage":["https://openalex.org/I204465549"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Xiumin Martin","raw_affiliation_strings":["Washington University in Saint Louis - Olin School of Business"],"raw_orcid":"https://orcid.org/0000-0001-6453-1132","affiliations":[{"raw_affiliation_string":"Washington University in Saint Louis - Olin School of Business","institution_ids":["https://openalex.org/I204465549"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5101852585","display_name":"Emre Unlu","orcid":"https://orcid.org/0000-0002-3915-5486","observed_orcids":["https://orcid.org/0000-0002-3915-5486"]},"institutions":[{"id":"https://openalex.org/I114395901","display_name":"University of Nebraska\u2013Lincoln","ror":"https://ror.org/043mer456","country_code":"US","type":"education","lineage":["https://openalex.org/I114395901"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Emre Unlu","raw_affiliation_strings":["University of Nebraska at Lincoln"],"raw_orcid":"https://orcid.org/0000-0002-3915-5486","affiliations":[{"raw_affiliation_string":"University of Nebraska at Lincoln","institution_ids":["https://openalex.org/I114395901"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":3,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":16.6409,"has_fulltext":false,"cited_by_count":31,"citation_normalized_percentile":{"value":0.98537657,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":98},"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9945999979972839,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9945999979972839,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12276","display_name":"Risk Management in Financial Firms","score":0.0013000000035390258,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12509","display_name":"Corporate Insolvency and Governance","score":0.0006000000284984708,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/executive-compensation","display_name":"executive compensation","score":1.0},{"id":"https://openalex.org/keywords/corporate-debt-maturity","display_name":"corporate debt maturity","score":0.7670000195503235},{"id":"https://openalex.org/keywords/managerial-risk-preferences","display_name":"managerial risk preferences","score":0.7170000076293945},{"id":"https://openalex.org/keywords/agency-costs-of-debt","display_name":"agency costs of debt","score":0.9200000166893005},{"id":"https://openalex.org/keywords/compensation-risk","display_name":"compensation risk","score":0.7839999794960022},{"id":"https://openalex.org/keywords/bond-yields","display_name":"bond yields","score":0.8939999938011169},{"id":"https://openalex.org/keywords/stock-price-sensitivity","display_name":"stock price sensitivity","score":0.4009999930858612}],"concepts":[{"id":"https://openalex.org/C151392489","wikidata":"https://www.wikidata.org/wiki/Q5419946","display_name":"Executive compensation","level":3,"score":0.6902331113815308},{"id":"https://openalex.org/C36673458","wikidata":"https://www.wikidata.org/wiki/Q392896","display_name":"Agency cost","level":4,"score":0.5602824687957764},{"id":"https://openalex.org/C120527767","wikidata":"https://www.wikidata.org/wiki/Q3196867","display_name":"Debt","level":2,"score":0.5201154947280884},{"id":"https://openalex.org/C2780821815","wikidata":"https://www.wikidata.org/wiki/Q5340806","display_name":"Portfolio","level":2,"score":0.5157437920570374},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.49452587962150574},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.48600634932518005},{"id":"https://openalex.org/C135665773","wikidata":"https://www.wikidata.org/wiki/Q2234049","display_name":"Debt ratio","level":3,"score":0.4756483733654022},{"id":"https://openalex.org/C91602232","wikidata":"https://www.wikidata.org/wiki/Q756115","display_name":"Volatility (finance)","level":2,"score":0.4454444944858551},{"id":"https://openalex.org/C22270272","wikidata":"https://www.wikidata.org/wiki/Q5248601","display_name":"Debt levels and flows","level":4,"score":0.44166266918182373},{"id":"https://openalex.org/C202189257","wikidata":"https://www.wikidata.org/wiki/Q2915683","display_name":"Internal debt","level":3,"score":0.4148305654525757},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.4028240442276001},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.3413937985897064},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.25590893626213074},{"id":"https://openalex.org/C39389867","wikidata":"https://www.wikidata.org/wiki/Q380767","display_name":"Corporate governance","level":2,"score":0.18699228763580322},{"id":"https://openalex.org/C120757647","wikidata":"https://www.wikidata.org/wiki/Q381136","display_name":"Shareholder","level":3,"score":0.08059173822402954}],"mesh":[],"locations_count":2,"locations":[{"id":"pmh:oai:digitalcommons.unl.edu:financefacpub-1020","doi":null,"is_oa":false,"landing_page_url":"https://digitalcommons.unl.edu/financefacpub/21","pdf_url":null,"source":{"id":"https://openalex.org/S4306400577","display_name":"Lincoln (University of Nebraska)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I114395901","host_organization_name":"University of Nebraska\u2013Lincoln","host_organization_lineage":["https://openalex.org/I114395901"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Department of Finance: Faculty Publications","raw_type":"text"},{"id":"mag:3125893273","doi":null,"is_oa":true,"landing_page_url":"https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1479629","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null}],"best_oa_location":{"id":"mag:3125893273","doi":null,"is_oa":true,"landing_page_url":"https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1479629","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null},"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"id":"https://metadata.un.org/sdg/17","display_name":"Partnerships for the goals","score":0.4399999976158142}],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":40,"referenced_works":["https://openalex.org/W1503295912","https://openalex.org/W1507965834","https://openalex.org/W1583622431","https://openalex.org/W1589123090","https://openalex.org/W1982438007","https://openalex.org/W2011144513","https://openalex.org/W2023536604","https://openalex.org/W2053857213","https://openalex.org/W2059680737","https://openalex.org/W2059752150","https://openalex.org/W2072856287","https://openalex.org/W2075911810","https://openalex.org/W2081954355","https://openalex.org/W2085527463","https://openalex.org/W2088039507","https://openalex.org/W2088111862","https://openalex.org/W2091020207","https://openalex.org/W2097384732","https://openalex.org/W2099724718","https://openalex.org/W2110497488","https://openalex.org/W2112734684","https://openalex.org/W2113326322","https://openalex.org/W2121215516","https://openalex.org/W2125720994","https://openalex.org/W2128107798","https://openalex.org/W2133907450","https://openalex.org/W2142151745","https://openalex.org/W2162225546","https://openalex.org/W2577227262","https://openalex.org/W3122120088","https://openalex.org/W3122403692","https://openalex.org/W3122708672","https://openalex.org/W3122922367","https://openalex.org/W3123142049","https://openalex.org/W3123595788","https://openalex.org/W3123826726","https://openalex.org/W3123938212","https://openalex.org/W3124144162","https://openalex.org/W3125939327","https://openalex.org/W3149901755"],"related_works":["https://openalex.org/W1692276012","https://openalex.org/W3134683952","https://openalex.org/W2340102344","https://openalex.org/W3126101516","https://openalex.org/W2472665463","https://openalex.org/W4221126185","https://openalex.org/W4409391675","https://openalex.org/W2086099574","https://openalex.org/W4407064281","https://openalex.org/W3193691525"],"abstract_inverted_index":{"Executive":[0],"compensation":[1,96],"influences":[2],"managerial":[3,24,43],"risk":[4,44],"preferences":[5],"through":[6],"executives\u2019":[7],"portfolio":[8,58],"sensitivities":[9],"to":[10],"changes":[11],"in":[12],"stock":[13,17],"prices":[14],"(delta)":[15],"and":[16,48,61,75],"return":[18],"volatility":[19],"(vega).":[20],"Large":[21],"deltas":[22,59],"discourage":[23],"risk-taking,":[25],"while":[26],"large":[27],"vegas":[28],"encourage":[29],"risk-taking.":[30],"Theory":[31],"suggests":[32],"that":[33,67,86],"short-maturity":[34,62],"debt":[35,40,69,88,93],"mitigates":[36,70,89],"agency":[37,90],"costs":[38,91],"of":[39,51,73,92],"by":[41],"constraining":[42],"preferences.":[45],"We":[46,64],"posit":[47],"find":[49,66],"evidence":[50,84],"a":[52],"negative":[53],"(positive)":[54],"relation":[55],"between":[56],"CEO":[57],"(vegas)":[60],"debt.":[63],"also":[65],"shortmaturity":[68],"the":[71],"influence":[72],"vega-":[74],"delta-related":[76],"incentives":[77],"on":[78],"bond":[79],"yields.":[80],"Overall,":[81],"our":[82],"empirical":[83],"shows":[85],"short-term":[87],"arising":[94],"from":[95],"risk.":[97]},"counts_by_year":[{"year":2025,"cited_by_count":1},{"year":2018,"cited_by_count":1},{"year":2017,"cited_by_count":3},{"year":2016,"cited_by_count":2},{"year":2015,"cited_by_count":5},{"year":2014,"cited_by_count":2},{"year":2013,"cited_by_count":3},{"year":2012,"cited_by_count":1}],"updated_date":"2026-10-12T09:40:04.860316","created_date":"2021-02-01T00:00:00"}
