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Are CEOS Really Paid Like Bureaucrats?
Hall, Brian J.; Liebman, Jeffrey B. - 2021
A common view of CEO compensation is that there is essentially no correlation between firm performance and CEO pay. This calls into question an important component of effective corporate governance. This zero correlation' belief is based on the widely cited result that CEO wealth rises by only...
Persistent link: https://www.econbiz.de/10013310217
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Smokescreen : How Managers Behave When They Have Something to Hide
Artiga González, Tanja - 2013
unusually low CEO turnover and rely on internal management promotions. Their managers exercise stock options faster than … managers of other firms. Cartel firms are large donors to political candidates. While our results are based only upon firms … engaged in price fixing, we expect that they should apply generally to all companies in which managers seek to conceal poor …
Persistent link: https://www.econbiz.de/10013085128
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Does Linking Worker Pay to Firm Performance Help the Best Firms Do Even Better?
Kruse, Douglas L. - 2015
This paper analyzes the linkages among group incentive methods of compensation, labor practices, worker assessments of workplace culture, turnover, and firm performance in a non-representative sample of companies: firms that applied to the "100 Best Companies to Work For in America" competition...
Persistent link: https://www.econbiz.de/10013037335
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Wages, Profits and Rent-Sharing
Blanchflower, David G.; Oswald, Andrew J.; Sanfey, Peter - 2021
in wages are explained by movements in lagged levels of profitability and unemployment. The results appear to be … competitive labor market model. The paper estimates the unemployment elasticity of pay at approximately -0.03, and the profit …
Persistent link: https://www.econbiz.de/10013219306
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Experience, Performance, and Earnings
Medoff, James L.; Abraham, Katharine G. - 2021
This study provides direct evidence concerning the relationship between experience and performance among managerial and professional employees doing similar work in two major U. S. corporations. The facts presented indicate that while, within grade levels, there is a strong positive association...
Persistent link: https://www.econbiz.de/10013234970
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The Effect of the Payroll Tax on Earnings : A Test of Competing Models of Wage Determination
Lang, Kevin - 2021
earnings by the entire nominal employer share of the tax increase. If wages play a motivational role but the market still … clears, the range of possible outcomes is broader but wages should still not rise if the tax is nominally divided 50/50. In … effects of wages are important but cannot clearly distinguish between the efficiency wage and market-clearing versions of …
Persistent link: https://www.econbiz.de/10013218401
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Managerial Overconfidence and Corporate Policies
Ben-David, Itzhak - 2008
Using a unique 10-year panel that includes more than 13,300 expected stock market return probability distributions, we find that executives are severely miscalibrated, producing distributions that are too narrow: realized market returns are within the executives' 80% confidence intervals only...
Persistent link: https://www.econbiz.de/10012773122
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A Theory of Income Smoothing When Insiders Know More than Outsiders
Acharya, Viral V. - 2011
We consider a setting in which insiders have information about income that outside shareholders do not, but property rights ensure that outside shareholders can enforce a fair payout. To avoid intervention, insiders report income consistent with outsiders' expectations based on publicly...
Persistent link: https://www.econbiz.de/10013117203
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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
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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