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 interpret high pay as the result of optimal contracting in a …

compensation relative to other workers' earnings from 1940 to 1946. The continued decrease in relative executive pay remains …

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 … increased; the income accruing to CEOs from the sale of stock has increased; regardless of the measure we adopt, compensation …

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 … compensation that is higher by one-third than the compensation of CEOs belonging to the bottom quartile. We also find that stock …

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 … shift billable hours to team members. Although the motivation for the change in the compensation plan was the multitasking …

with the compensation policies of firms. This literature is considered from the perspective of three major theories …. However, our understanding of the effect of compensation on behavior and of the motivations for firms in choosing certain …

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 …