Understanding CEO compensation plans is a continuing challenge for directors and investors. The disclosure of these plans is dictated by SEC rules that rely heavily on the “fair value” of awards at the time they are granted. The problem with these numbers is that they are static and do not...

We analyze 228 executive compensation contracts voluntarily disclosed by Chinese listed firms and find that central-government-controlled companies disclose more information in executive compensation contracts than local-government-controlled and non-government-controlled companies. Cash-based...

Applying a difference-in-differences approach, we document the effect of hedge fund activism on the corporate governance of target firms through the channel of CEO compensation. We hand-collect data on managerial pay for a sample of 244 U.S. publicly-listed firms that were targets of activist...