Firth, Michael; Jin, Man; Zhang, Yuanyuan - In: The European Journal of Finance 20 (2014) 7-9, pp. 637-656
This paper uses stock price informativeness, or information-based stock trading, to help explain the pay-performance sensitivity (PPS) of chief executive officer (CEO) compensation in China's listed firms. We argue that higher stock price informativeness, which we measure by the probability of...