Choe, Chongwoo; Tian, Gloria; Yin, Xiangkang - Department of Econometrics and Business Statistics, … - 2008
) when there is no constraint on the CEO's salary, the CEO's stock-based compensation and the pay-performance sensitivity of … increases, and (ii) when the CEO's salary has a binding cap, the CEO's stock-based compensation and the pay-performance … sensitivity of CEO compensation are both increasing in CEO power, resulting in better firm performance gross of CEO compensation …