... in the cooperative framework. As empirical evidence of this problem and its corresponding solution, we illustrate the case of the Mondragón cooperatives, explaining in detail the incentive system and the control mechanisms now in place in this successful business group. The study of the governance architecture...

...Bartolomé Dey´‐Tortella; Luis R. Gomez‐Mejía; Julio O. de Castro; Robert M. Wiseman Agency theoretic models have been used in the past to justify the use of stock options as an effective incentive alignment mechanism to create a common fate between principals and agents. In this paper, we use...

...Marta M. Elvira This case study examines how incentive pay programs are designed and changed over time in a financial organization that has typically relied on fixed salary compensation. Once incentive programs are introduced, pay plans change frequently, and this process allows the study...