This paper is the first to examine the relationships among golden parachutes (GPs), CEO compensation incentives, and managerial risk-taking. GPs are positively associated with risktaking, but only when controlling for the ...

We examine the relations between golden parachutes (GPs), pay-performance sensitivity (delta), and managerial risk-taking. We find an insignificant effect of GPs, but a negative and significant interaction of GPs with ...