Is U.S. CEO Compensation Inefficient Pay without Performance?

نویسندگان
چکیده

برای دانلود رایگان متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

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 کامل

How is Relative Performance Evaluation Incorporated in CEO Compensation Contracts?*

We examine how relative performance evaluation (RPE) is incorporated in CEO compensation contracts. We find common features across contracts. First, firms tend to base the awards on the ranking of the CEO relative to peers. Second, the relation between performance and awards is highly nonlinear. And third, the award is based on a performance horizon of around three years. Once these features ar...

متن کامل

CEO Ability, Pay, and Firm Performance

in the wake of the global financial crisis. Recent indignation over seemingly exorbitant CEO compensation in the face of poor company performance have given rise to the question: Does CEO pay accurately reflect CEO ability? If so, does the CEO make a difference to company performance? Practitioners intuitively know the importance of top CEOs, however does academic research concur? Despite its e...

متن کامل

The Role and Effect of Compensation Consultants on CEO Pay

We examine the effect of compensation consultants on CEO pay. Using a sample of 292 firms in 2006 randomly selected from ExecuComp, we find that compensation consultants are associated with higher salaries, consistent with the hypothesis that consultants help boards of directors justify excessive CEO pay. However, we also find that the use of a consultant is associated with lower bonuses and to...

متن کامل

Corporate Governance, Compensation Consultants, and CEO Pay Levels

This study investigates the relation between corporate governance and CEO pay levels and the extent to which the higher pay found in firms using compensation consultants is related to governance differences. Using proxy statement disclosures from 2,110 companies, we find that CEO pay is higher in firms with weaker governance and that firms with weaker governance are more likely to use compensat...

متن کامل

ذخیره در منابع من


  با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید

ژورنال

عنوان ژورنال: SSRN Electronic Journal

سال: 2005

ISSN: 1556-5068

DOI: 10.2139/ssrn.648648