CEO Pensions
نویسندگان
چکیده
We examine whether CEO power can explain the vast amount defined benefit pensions received by them. Analyzing a sample of UK firms from 2003 to 2006, we find that pensions constitutes of almost 15% of the average CEO compensation. Statistical analysis shows that the variables representing increased CEO power have a positive influence on pension pay. We also find that the presence of defined benefit pensions in CEO compensation is associated with a decline in the pay-performance relationship.
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