Does firm life cycle have impacts on managerial promotion tournament incentives?

Article

Chowdhury, Hasibul and Shams, Syed. 2021. "Does firm life cycle have impacts on managerial promotion tournament incentives?" Australian Journal of Management. 46 (4), pp. 593-628. https://doi.org/10.1177/0312896220974417
Article Title

Does firm life cycle have impacts on managerial promotion tournament incentives?

ERA Journal ID19154
Article CategoryArticle
AuthorsChowdhury, Hasibul (Author) and Shams, Syed (Author)
Journal TitleAustralian Journal of Management
Journal Citation46 (4), pp. 593-628
Number of Pages36
Year2021
Place of PublicationUnited Kingdom
ISSN0312-8962
1327-2020
Digital Object Identifier (DOI)https://doi.org/10.1177/0312896220974417
Web Address (URL)https://journals.sagepub.com/doi/10.1177/0312896220974417
Abstract

We examine whether and how firm-level promotion tournament incentives for executives, measured by the pay gap between a chief executive officer (CEO) and non-CEO executives, vary in different corporate life-cycle stages. Results show that managerial tournament incentives are higher in growth and mature life-cycle stages than in introduction and decline stages. In additional analyses, we find that firms design compensation contracts for growth and mature life-cycle stages with a target to increase tournament incentives for non-CEO executives that induce managerial risk-taking behaviour, leading to high productivity and performance.

Keywordsfirm life cycle, tournament incentives
ANZSRC Field of Research 2020350202. Finance
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Byline AffiliationsUniversity of Queensland
School of Commerce
Institution of OriginUniversity of Southern Queensland
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