Scholarlink

<p>Research shows that relative values of CEO stock-based compensation influence firm risk-taking, yet how CEO characteristics moderate these effects remains unclear. We examine the role of CEO regulatory focus, individuals’ motivational orientation toward avoiding losses versus achieving gains, as a key moderator. Drawing on regulatory focus theory, we argue that CEOs respond to relative restricted stock values through two distinct mechanisms. Below-reference values trigger regulatory fit, prompting CEOs to align risk-taking with their regulatory orientations. Above-reference values trigger regulatory pride, reinforcing existing orientations as CEOs view success as validation. Using data from S&amp;P 500 firms, our findings support these ideas, highlighting how CEO regulatory focus shapes strategic responses to relative compensation values.</p>

错误：搜索内容不能为空，请输入英文关键词
错误：关键词超出字数限制，请精简
高级检索

Regulatory fit or regulatory pride? Relative values of CEO restricted stock and strategic risk taking

  • 期刊论文

  • 发表日期：

    2026年6月19日

查看全文
  • Rong Ma

摘要

Research shows that relative values of CEO stock-based compensation influence firm risk-taking, yet how CEO characteristics moderate these effects remains unclear. We examine the role of CEO regulatory focus, individuals’ motivational orientation toward avoiding losses versus achieving gains, as a key moderator. Drawing on regulatory focus theory, we argue that CEOs respond to relative restricted stock values through two distinct mechanisms. Below-reference values trigger regulatory fit, prompting CEOs to align risk-taking with their regulatory orientations. Above-reference values trigger regulatory pride, reinforcing existing orientations as CEOs view success as validation. Using data from S&P 500 firms, our findings support these ideas, highlighting how CEO regulatory focus shapes strategic responses to relative compensation values.