EconStor >
University of Chile >
Department of Economics, University of Chile >
Estudios de Economia, Department of Economics, University of Chile >

Please use this identifier to cite or link to this item:
Title:Esquemas de incentivos y carteras de inversión innovadoras PDF Logo
Authors:Loyola, Gino
Portilla, Yolanda
Issue Date:2010
Citation:[Journal:] Estudios de Economía [ISSN:] 0718-5286 [Volume:] 37 [Year:] 2010 [Issue:] 1 [Pages:] 43-66
Abstract (Translated):This article characterizes the properties of the compensation scheme of delegated portfolio management that would lead to the selection of high risk-high return portfolios. In particular, it provides conditions under which a non-monotone payment structure emerges as an optimal contract, which rewards extreme results and punishes moderate ones.
Subjects:executive compensation
delegated portfolio management
nonmonotone incentive schemes
non-monotone likelihood ratio property
Document Type:Article
Appears in Collections:Estudios de Economia, Department of Economics, University of Chile

Files in This Item:
File Description SizeFormat
636476006.pdf277.61 kBAdobe PDF
No. of Downloads: Counter Stats
Download bibliographical data as: BibTeX
Share on:

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.