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Management compensation and firm-level income inequality

Frederiksen, Anders (contributor); … - 2008

management compensation. In this paper, we study the relation between management compensation and firm-level income dynamics in a … general equilibrium model. Empirical estimation, of the model's key parameters show that the rising management premium is … rising management premium produces income distribution dynamics at the firm level which are similar to those observed at the …

Persistent link: https://www.econbiz.de/10003754931

Not so lucky any more : CEO compensation in financially distressed firms

Kang, Qiang (contributor); Mitnik, Oscar A. (contributor) - 2008

There is a debate on whether executive pay reflects rent extraction due to "managerial power" or is the result of arms-length bargaining in a principal-agent framework. In this paper we offer a test of the managerial power hypothesis by empirically examining the CEO compensation of U.S. public...

Persistent link: https://www.econbiz.de/10003779098

On the determinants of pay of CEOs in UK public sector higher education institutions

Bachan, Ray (contributor) - 2008

The pay determining process of CEOs of UK higher education institutions is modelled using three econometric methodologies applied to a large and unique dataset for the academic years 1997/98 through to 2005/06. A gender differential in pay is detected and this differential remains robust across...

Persistent link: https://www.econbiz.de/10003779101

Long run trends in Australian executive remuneration : BHP 1887 - 2012

Pottenger, Mike; Leigh, Andrew - 2013

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...

Persistent link: https://www.econbiz.de/10009766261

Management compensation and the economic crisis : longitudinal evidence from the German chemical sector

Grund, Christian; Hofmann, Tanja - 2013

Making use of unique balanced panel data for the German chemical sector from the years 2008 to 2011, we explore the extent to which managers' compensation was affected by the economic crisis and the extent to which it increased afterwards. Carrying out longitudinal analyses, we find that, on...

Persistent link: https://www.econbiz.de/10009754706

Executive compensation, firm performance, and chaebols in Korea : evidence from new panel data

Kato, Takao (contributor); Kim, U-chʾan (contributor); … - 2005

This paper provides the first rigorous econometric estimates on the pay-performance relations for executives of Korean firms with and without Chaebol affiliation. To do so, we have assembled for the first time panel data (that provide information not only on executive compensation and firm...

Persistent link: https://www.econbiz.de/10003225965

CEO Compensation

Frydman, Carola - 2010

This paper surveys the recent literature on CEO compensation. The rapid rise in CEO pay over the past 30 years has sparked an intense debate about the nature of the pay-setting process. Many view the high level of CEO compensation as the result of powerful managers setting their own pay. Others...

Persistent link: https://www.econbiz.de/10013135394

Pay Cuts for the Boss : Executive Compensation in the 1940s

Frydman, Carola - 2011

Executive pay fell during the 1940s, marking the last notable decrease in the past 70 years. We study this decline using a new panel dataset on the remuneration of top executives in 246 firms. We find that government regulation--including explicit salary restrictions and taxation--had, at best,...

Persistent link: https://www.econbiz.de/10013121089

Executive Compensation : Facts

Clementi, Gian Luca - 2010

In this paper we describe the important features of executive compensation in the US from 1993 to 2006. Some confirm what has been found for earlier periods and some are novel. Important facts about compensation are that: the compensation distribution is highly skewed; each year, a sizeable...

Persistent link: https://www.econbiz.de/10013150549

Bank CEO Incentives and the Credit Crisis

Fahlenbrach, Rüdiger - 2010

We investigate whether bank performance during the credit crisis of 2008 is related to CEO incentives and share ownership before the crisis and whether CEOs reduced their equity stakes in their banks in anticipation of the crisis. There is no evidence that banks with CEOs whose incentives were...

Persistent link: https://www.econbiz.de/10013151644