Lucian Bebchuk: Bonus Guarantees Can Fuel Risky Moves - WSJ.com

Lucian Bebchuk: Bonus Guarantees Can Fuel Risky Moves - WSJ.com: "Guaranteed bonuses create perverse incentives to take excessive risks, and they consequently could well be worse for incentives than straight salary.Introducing a guarantee into a bonus plan eliminates some downside risk but leaves the bonus compensation sensitive to performance on the upside."In effect these guaranteed bonus plans