منابع مشابه
CEO Compensation and Company Performance
This paper examines the relationship of CEO pay and company performance for 280 firms listed on the New York Stock Exchange for a period from 2006 through 2009. The time frame of the study is a period after the adoption of the Sarbanes Oxley Act and after the SEC approval of the corporate governance rules affecting executive pay for New York Stock Exchange companies. I find there to be a positi...
متن کاملCEO Power, Compensation, and Governance∗
This paper presents a contracting model of governance based on the premise that CEOs are the main promoters of governance change. CEOs use their power to extract higher pay or private benefits, and different governance structures are preferred by different CEOs as they favor one or the other type of compensation. The model explains why good countrywide investor protection breeds good firm gover...
متن کاملUrban agglomeration and CEO compensation
An underlying assumption in the executive compensation literature is that there is a national labor market for CEOs. The urban economics literature, however, documents higher ability among workers in large metropolitans, which results in a real and stable urban wage premium. In this paper, we investigate the link between the spatial clustering of firms in big, central cities (i.e., urban agglom...
متن کاملCEO Compensation and Board Oversight
In response to the corporate scandals in 2001-2002, the major U.S. exchanges came up with new regulations which are intended to enhance board oversight. We use this regulation event to shed light on the effect of board oversight on CEO compensation. We find that firms that were not complying with these regulations decreased their CEO compensation by between 20%-25% upon compliance, compared to ...
متن کاملDistributive Justice and CEO Compensation
This paper develops a framework for studying individuals’ ideas about what constitutes just compensation for chief executive officers (CEOs) and reports estimates of just CEO pay and the principles guiding ideas of justice among students pursuing a Master’s of Business Administration (MBA) degree in Sweden and the United States. The framework, based on justice theory and making use of Rossi’s f...
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ژورنال
عنوان ژورنال: Annual Review of Financial Economics
سال: 2010
ISSN: 1941-1367,1941-1375
DOI: 10.1146/annurev-financial-120209-133958