Economics of Executive Compensation Research Conference
Organized by Dirk Jenter and Kelly Shue
Supported by Norges Bank Investment Management
October 9-10, 2025
Hotel Marlowe, 25 Edwin H. Land Blvd., Cambridge, MA

Thursday, October 9

12:00 pm

Lunch

1:20 pm

Introductions

1:30 pm

How Executive Compensation Changes in Response to Personal Income Tax Shocks (Who Pays The CEO’s Income Taxes?)

Benjamin Bennett, Texas Christian University
Jeffrey Coles, University of Utah
Zexi Wang, Lancaster University

Discussant:
Benjamin Yost, Boston College

2:20 pm

ESG Incentives in Executive Compensation

Matthias Efing, HEC Paris
Stefanie A. Ehmann, University of Tübingen
Patrick Kampkötter, University of Tübingen
Raphael Moritz, University of Tübingen

Discussant:
Minjia Li, University of Alberta

3:10 pm

Break

3:30 pm

Real Effects of Personal Liability: Evidence from Industrial Pollution

Noemie Bucourt, Cornell University

Discussant:
Pat Akey, ESSEC Business School

4:20 pm

Executive Incentives and Strategic Talent Acquisition: Evidence from Poaching

Matthew J. Bloomfield, University of Pennsylvania
Thomas Bourveau, Columbia University
Xuanpu Lin, The University of Hong Kong (HKU)
Guoman She, National University of Singapore
Haoran Zhu, Southern University of Science and Technology

Discussant:
Jessica Jeffers, HEC Paris

5:10 pm

Adjourn

6:00 pm

Dinner at Bambara Restaurant (Hotel Marlowe)

Friday, October 10

8:30 am

Continental Breakfast

9:00 am

Assessing Pay-for-Effort Sensitivity through Short-Window Stock Returns

Sudarshan Jayaraman, University of Rochester
Xiaoxu Ling, Shanghai University of Finance and Economics
Joanna Shuang Wu, University of Rochester
Yong Zhang, Hong Kong Polytechnic University

Discussant:
Lalitha Naveen, Temple University

9:50 am

Discretionary Adjustments in Relative Performance Awards

John Bizjak, Texas Christian University
Swami Kalpathy, Texas Christian University
Jue Ren, Texas Christian University
Brian Young, Baylor University

Discussant:
Jun Yang, NTU Singapore

10:40 am

Break

11:10 am

Driving a Bargain: Negotiation Skill and Price Dispersion

Kristine Hankins, University of Kentucky
Tong Liu, Massachusetts Institute of Technology
Denis Sosyura, Arizona State University

Discussant:
Manuel Adelino, Duke University and NBER

12:00 pm

Lunch

1:10 pm

Human Capital, Competition and Mobility in the Managerial Labor Market

John W. Barry, Rice University
Noah Lyman, Warwick Business School
Lin Zhao, Duke University

Discussant:
Nickolay Gantchev, University of Virginia

2:00 pm

Aging at The Very Top

Valentin Kecht, University of Bonn
Alessandro Lizzeri, Princeton University and NBER
Farzad Saidi, University of Bonn

Discussant:
Charles Hadlock, University of Pittsburgh

2:50 pm

Adjourn