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CEO Compensation
Frydman, Carola - 2010
result of powerful managers setting their own pay. Others interpret high pay as the result of optimal contracting in a …
Persistent link: https://www.econbiz.de/10013135394
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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
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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
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Firm Expansion and CEO Pay
Bebchuk, Lucian A.; Grinstein, Yaniv - 2021
We study the extent to which decisions to expand firm size are associated with increases in subsequent CEO compensation. Controlling for past stock performance, we find a positive correlation between CEO compensation and the CEO's past decisions to increase firm size. This correlation is...
Persistent link: https://www.econbiz.de/10013310266
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Compensation Matters : Incentives for Multitasking in a Law Firm
Bartel, Ann P. - 2013
Due to the limited availability of firm-level compensation data, there is little empirical evidence on the impact of compensation plans on personal productivity. We study an international law firm that moves from high-powered individual incentives towards incentives for "leadership" activities...
Persistent link: https://www.econbiz.de/10013076564
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What Happens within Firms? A Survey of Empirical Evidence on Compensation Policies
Prendergast, Canice - 2000
with the compensation policies of firms. This literature is considered from the perspective of three major theories: human capital, learning, and incentives. Considerable empirical work has addressed each of these theories with some success. However, our understanding of the effect of...
Persistent link: https://www.econbiz.de/10012789103
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Peer Information and Risk-Taking Under Competitive and Non-Competitive Pay Schemes
Brookins, Philip; Brown, Jennifer; Ryvkin, Dmitry - 2021
Incentive schemes that reward participants based on their relative performance are often thought to be particularly risk-inducing. Using a novel, real-effort task experiment in the laboratory, we find that the relationship between incentives and risk-taking is more nuanced and depends critically...
Persistent link: https://www.econbiz.de/10013224108
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Output-Based Pay : Incentives or Sorting?
Lazear, Edward P. - 2021
of the typical American firm. Variable pay is usually touted as a way to provide incentives to managers whose interests … received much attention, but that is consistent with may of the facts, is selection. Managers and industry specialists may have … information about a firm's prospects that is unavailable to outside investors. In order to induce managers to be truthful about …
Persistent link: https://www.econbiz.de/10013233852
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The Sociology of Groups and the Economics of Incentives : Theory and Evidence on Compensation Systems
Encinosa, William E.; Gaynor, Martin; Rebitzer, James B. - 2021
This paper incorporates the sociological concept of group norms' into an economic analysis of pay systems. We use a behavioral microeconomic model and a unique survey of medical groups to examine the theoretical and empirical relationship between group norms and incentive pay. Our findings...
Persistent link: https://www.econbiz.de/10013234345
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Firms' Choice of Method of Pay
Brown, Charles - 2021
Three types of pay-setting methods are piece rates (pay mechanically linked to output), merit pay (pay based on less formal judgments by one's supervisor), and standard rates (pay based on one's job classification and perhaps seniority, but not directly on performance). Firms' choice among...
Persistent link: https://www.econbiz.de/10013227515