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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

returns to firm size and an increase in the power of labor unions contributed greatly to the reduction in executive …

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

Dynamic Incentive Accounts

Edmans, Alex - 2009

Contracts in a dynamic model must address a number of issues absent from static frameworks. Shocks to firm value may weaken the incentive effects of securities (e.g. cause options to fall out of the money), and the impact of some CEO actions may not be felt until far in the future. We derive the...

Persistent link: https://www.econbiz.de/10013156534

Optimal Executive Compensation vs. Managerial Power : A Review of Lucian Bebchuk and Jesse Fried's "Pay Without Performance: The Unfulfilled Promise of Executive Compensation"

Weisbach, Michael S. - 2007

This essay reviews Bebchuk and Fried's quot;Pay without Performance: The Unfulfilled Promise of Executive Compensationquot;. Bebchuk and Fried criticize the standard view of executive compensation, in which executives negotiate contracts with shareholders that provide incentives that motivate...

Persistent link: https://www.econbiz.de/10012778036

Why Has CEO Pay Increased so Much?

Gabaix, Xavier - 2006

competitive assignment model. In market equilibrium, a CEO%u2019s pay changes one for one with aggregate firm size, while changing … much less with the size of his own firm. The model determines the level of CEO pay across firms and over time, offering a … in CEO talent, which nonetheless justifies large pay differences. The data broadly support the model. The size of large …

Persistent link: https://www.econbiz.de/10012779748

Executive Compensation : Six Questions that Need Answering

Abowd, John M. - 2002

In this article, we focus on how recent research advances can be used to address the following six questions: (1) How much does executive compensation cost the firm? (2) How much is executive compensation worth to the recipient? (3) How well does executive compensation work? (4) What are the...

Persistent link: https://www.econbiz.de/10012787508

Spill-Overs from Good Jobs

Beaudry, Paul - 2010

Does attracting or losing jobs in high paying sectors have important spill-over effects on wages in other sectors? The … relationship between changes in industry-specific city-level wages and changes in industrial composition. Our finding is that the … very substantial and persistent. Our point estimates indicate that the total effect on average wages of a change in …

Persistent link: https://www.econbiz.de/10012760221

Executive Compensation and Incentives : the Impact of Takeover Legislation

Bertrand, Marianne - 2010

We investigate the impact of changes in states' anti-takeover legislation on executive compensation. We find both pay for performance sensitivities and mean pay increase for the firms affected by the legislation (relative to a control group). These findings are partially consistent with an...

Persistent link: https://www.econbiz.de/10012763822

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