Are CEOS Really Paid Like Bureaucrats?

A common view is that there is little correlation between firm performance and CEO pay. Using a new 15-year panel data set of CEOs in the largest publicly traded U.S. companies, we document a strong relationship between firm performance and CEO compensation. This relationship is generated almost entirely by changes in the value of CEO holdings of stock and stock options. In addition, we show that both the level of CEO compensation and the sensitivity of compensation to firm performance have risen dramatically since 1980, largely because of increases in stock option grants

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Year of publication:	[2003]
Authors:	Hall, Brian J.
Other Persons:	Liebman, Jeffrey B. (contributor)
Publisher:	[2003]: [S.l.] : SSRN
Description of contents:	Abstract [papers.ssrn.com]

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Extent:	1 Online-Ressource
Type of publication:	Book / Working Paper
Notes:	In: The Quarterly Journal of Economics, August 1998 Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments 1997 erstellt Volltext nicht verfügbar
Classification:	G3 - Corporate Finance and Governance ; J3 - Wages, Compensation, and Labor Costs ; L2 - Firm Objectives, Organization, and Behavior
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10012787037