... these payments are established, the payoff to the executive/recipient necessarily reflects only the firm’s revealed performance up to the payment date; the amounts involved are fixed when awarded and as received are independent of the firm’s subsequent performance. Moreover, bonus awards are typically based...

... publication and authors. The full terms of this licence may be seen at http://creativecommons.org/licenses/by/4.0/legalcode Performance Outliers Econometrics Stochastic DEA Efficiency estimation Measurement of productive performance requires estimation of frontier production to serve...