Which of the following are negative consequences of compensating managers with stock?

Question options:

a$)$

Stock compensation can attenuate management shirking and risk aversion

b$)$

Stock compensation forces management to bear high levels of $$rm$-$speci$$c risk, which cannot be diversi$$ed away

c$)$

Stock compensation allows a risk$-$averse manager to be assured of a minimum level of pay

d$)$

Stock compensation is less susceptible to market wide effects outside of management control