Foreign Experience and CEO Compensation

This paper investigates the relation between foreign experience and CEO compensation. Using a sample of large UK firms from the FTSE 350 index from 2003 to 2011, we find that foreign-born CEOs and national CEOs with foreign working experience receive significantly higher levels of total compensation compared to those without these characteristics. We document that this foreign-CEO pay premium is stronger in firms that are more globalized. The results are robust to controlling for firm-specific economic and corporate governance characteristics as well as the endogenous CEO selection using propensity score matching. Our results show that the foreign-CEO pay premium is attributed to specialized foreign expertise rather than broader general managerial skills

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Year of publication:	2020
Authors:	Conyon, Martin J.
Other Persons:	Hass, Lars Helge (contributor) ; Vergauwe, Skrålan (contributor) ; Zhang, Zhifang (contributor)
Publisher:	[2020]: [S.l.] : SSRN
Subject:	Führungskräfte \| Managers \| Managervergütung \| Executive compensation \| Vergütungssystem \| Compensation system \| Lohn \| Wages \| Leistungsentgelt \| Performance pay
Description of contents:	Abstract [papers.ssrn.com] ; Abstract [doi.org]

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Extent:	1 Online-Ressource
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments March 28, 2016 erstellt Volltext nicht verfügbar
Other identifiers:	10.2139/ssrn.2755631 [DOI]
Classification:	G3 - Corporate Finance and Governance
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10012855613