How Executive Pay Shapes Corporate Behavior
A practical framework for seeing which decisions an executive scorecard can make more attractive, when that pressure becomes stronger and what investors should test before making a causal claim.
Efe Tanyer · 2026
Market Guides
Practical frameworks for understanding the mechanisms behind markets and corporate decisions.
3 Market Guides
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When Does a Stock Buyback Create Value, and When Is It a Warning?
To judge whether a buyback creates value, look beyond the authorization to the net share reduction, EPS bridge, purchase price, financing and the best alternative use of the cash.
When and Why Do Bond Yields Move the Nasdaq-100?
The US ten-year Treasury yield does not move the Nasdaq-100 by itself. A practical framework for separating discount rates, earnings expectations, risk premia and corporate financing.