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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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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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Executive Compensation : A Survey of Theory and Evidence
Edmans, Alex - 2017
This paper reviews the theoretical and empirical literature on executive compensation. We start by presenting data on the level of CEO and other top executive pay over time and across firms, the changing composition of pay; and the strength of executive incentives. We compare pay in U.S. public...
Persistent link: https://www.econbiz.de/10012951861
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CEO Incentives and Firm Size
Baker, George P.; Hall, Brian J. - 2021
What determines CEO incentives? A confusion exists among both academics and practitioners about how to measure the strength of CEO incentives, and how to reconcile the enormous differences in pay sensitivities between executives in large and small firms. We show that while one measure of CEO...
Persistent link: https://www.econbiz.de/10013234372
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Credit Default Swaps, Agency Problems, and Management Incentives
Lee, Jongsub - 2017
: reducing the opportunity for managers to transfer value to equityholders from creditors via strategic default, and reducing the …
Persistent link: https://www.econbiz.de/10012941985
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Performance Incentives within Firms : The Effect of Managerial Responsibility
Aggarwal, Rajesh K.; Samwick, Andrew A. - 2022
executive officers. However, firms are run by teams of managers, and a theory of the firm should also explain the distribution …
Persistent link: https://www.econbiz.de/10013308346
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Corporate Governance and Risk Management at Unprotected Banks : National Banks in the 1890s
Calomiris, Charles W. - 2014
Managers' incentives may conflict with those of shareholders or creditors, particularly at leveraged, opaque banks …
Persistent link: https://www.econbiz.de/10013060693
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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