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Results 1 - 10
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866
Executive Compensation
, 1999
"... This paper summarizes the empirical and theoretical research on executive compensation and provides a comprehensive and up-to-date description of pay practices (and trends in pay practices) for chief executive officers (CEOs). Topics discussed include the level and structure of CEO pay (including de ..."
Abstract
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Cited by 625 (17 self)
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detailed analyses of annual bonus plans, executive stock options, and option valuation), international pay differences, the pay-setting process, the relation between CEO pay and firm performance (“pay-performance sensitivities”), the relation between sensitivities and subsequent firm performance, relative
Are CEOs rewarded for luck? The ones without principals are
- Quarterly Journal of Economics
, 2001
"... The contracting view of CEO pay assumes that pay is used by shareholders to solve an agency problem. Simple models of the contracting view predict that pay should not be tied to luck, where luck is defined as observable shocks to perfor-mance beyond the CEO's control. Using several measures of ..."
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Cited by 76 (0 self)
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of luck, we find that CEO pay in fact responds as much to a lucky dollar as to a general dollar. A skimming model, where the CEO has captured the pay-setting process, is consis-tent with this fact. Because some complications to the contracting view could also generate pay for luck, we test for skimming
by
, 1999
"... This paper summarizes the empirical and theoretical research on executive compensation and provides a comprehensive and up-to-date description of pay practices (and trends in pay practices) for chief executive officers (CEOs). Topics discussed include the level and structure of CEO pay (including de ..."
Abstract
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detailed analyses of annual bonus plans, executive stock options, and option valuation), international pay differences, the pay-setting process, the relation between CEO pay and firm performance (“pay-performance sensitivities”), the relation between sensitivities and subsequent firm performance, relative
Effect Of The Sarbanes-Oxley Act On CEO Pay For Luck
"... According to the rent-extraction hypothesis, weak corporate governance allows entrenched CEOs to capture the pay-setting process and to be paid for luck by benefiting from events outside of their control. In this paper, I find that the independence requirement on boards of directors imposed by the S ..."
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Cited by 1 (0 self)
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According to the rent-extraction hypothesis, weak corporate governance allows entrenched CEOs to capture the pay-setting process and to be paid for luck by benefiting from events outside of their control. In this paper, I find that the independence requirement on boards of directors imposed
Are all CEOs above average? An empirical analysis of compensation peer groups and pay design
- Journal of Financial Economics
, 2011
"... Critics contend that the use of compensation peer groups has resulted in inflated CEO pay that cannot be justified based on economic fundamentals. We examine this issue using the mandated disclosure of compensation peers that began in 2006. Although firms generally select compensation peers based on ..."
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Cited by 15 (1 self)
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setting process. We provide some preliminary evidence that increased disclosure has reduced the biases in peer group choice.
Trade, Quality Upgrading and Wage Inequality in the Mexican Manufacturing Sector: Theory and Evidence . . .
- JOURNAL OF ECONOMICS
, 2008
"... This paper proposes a new model of the link between expanding trade and rising wage inequality in developing countries, and investigates its causal implications in a newly constructed panel of Mexican manufacturing establishments. In a theoretical setting with heterogeneous firms and quality differe ..."
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Cited by 287 (17 self)
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This paper proposes a new model of the link between expanding trade and rising wage inequality in developing countries, and investigates its causal implications in a newly constructed panel of Mexican manufacturing establishments. In a theoretical setting with heterogeneous firms and quality
Gender and Dynamic Agency: Theory and Evidence on the Compensation of Top Executives
, 2008
"... We document three new facts about gender di¤erences in executive compensation. First, female executives receive lower share of incentive pay in total compensation relative to males. This di¤erence accounts for 72 % of the gender gap in total pay. Second, the compensation of female executives display ..."
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of compensation. We consider two paradigms for the pay-setting process, the e ¢ cient contracting model under moral hazard and the "managerial power " or skimming view of executive compensation. The e ¢ cient contracting model can explain the
rst two facts. Only the skimming view is consistent
Pay without performance: The unfulfilled promise of executive compensation.
, 2004
"... ). The book provides a detailed account of how structural flaws in corporate governance have enabled managers to influence their own pay and have produced widespread distortions in pay arrangements. The book also examines how these flaws and distortions can best be addressed. Part IV of the book di ..."
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Cited by 233 (6 self)
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discusses how executive compensation -and corporate governance more generally -can be improved. We examine the extent to which pay arrangements can be improved by adopting board process rules, imposing shareholder approval requirements, and making pay more transparent. We conclude that problems
DOES ‘BEST PRACTICE ’ IN SETTING EXECUTIVE PAY IN THE UK ENCOURAGE ‘GOOD ’ BEHAVIOUR?
"... We examine how UK listed companies set executive pay, reviewing the implications of following best practice in corporate governance and examining how this can conflict with what shareholders and other stakeholders might perceive as good behaviour. We do this by considering current governance regulat ..."
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regulation in the light of interviews with protagonists in the debate, setting out the dilemmas faced by remuneration-setters, and showing how the processes they follow can lead to ethical conflicts. Current ‘best ’ practice governing executive pay includes the use of market benchmarks to determine salary
Results 1 - 10
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866
