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CEO compensation contagion: evidence from an exogenous shock (2013)
by
Frederick L Bereskin
,
David C Cicero
| Venue: | Journal of Financial Economics |
| Citations: | 5 - 0 self |
BibTeX
@ARTICLE{Bereskin13ceocompensation,
author = {Frederick L Bereskin and David C Cicero},
title = {CEO compensation contagion: evidence from an exogenous shock},
journal = {Journal of Financial Economics},
year = {2013}
}
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Abstract
Abstract New Delaware caselaw in the mid-1990s increased Delaware-incorporated firms' ability to resist hostile takeovers. In response, Delaware firms where managers had the greatest protection from outside shareholders substantially increased CEO compensation. Non-Delaware firms not directly impacted by the laws increased CEO compensation when the laws directly affected a substantial number of firms in their industry. Our results support a limited version of the contagion effect hypothesized by
