Outside the US, little is known of long-run trends in executive compensation. We fill this gap by studying BHP, a resources giant that has long been one of the largest companies on the Australian stock market. From 1887 to 2013, trends in CEO and director remuneration (relative to average...

We investigate the impact of social networks on earnings using a dataset of over 20,000 senior executives of European and US firms. The size of an individual's network of influential former colleagues has a large positive association with current remuneration. An individual at the 75th...

Data from the German Socio-Economic Panel are used to examine the roles of individual heterogeneity and job match quality in generating commonly observed wage-tenure profiles. The evidence presented in the paper indicates that once those factors are reflected in the estimations, the returns to...

We examine the effect of say on pay regulation in the United Kingdom (UK). Consistent with the view that shareholders regard say on pay as a value-creating mechanism, the regulation's announcement triggered a positive stock price reaction at firms with weak penalties for poor performance. UK...

We simultaneously analyze two mechanisms of the managerial labor market (CEO turnover and remuneration schemes) in two different regulatory regimes, namely before and after the sweeping governance reforms adopted in the UK in the 1990s. We employ sample selection models to examine firms in a...

We address the role of labor cost differentials for national tax policies. Using a simple theoretical framework with two countries competing for a mobile firm, we show that in a bidding race for FDI, it is optimal for governments to compensate firms for international labor cost differentials....