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Salary or Benefits?
Oyer, Paul - National Bureau of Economic Research (NBER) - 2005
Employer-provided benefits are a large and growing share of compensation costs. In this paper, I consider three factors that can affect the value created by employer-sponsored benefits. First, firms have a comparative advantage (for example, due to scale economies or tax treatment) in purchasing...
Persistent link: https://www.econbiz.de/10005087439
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Does Linking Worker Pay to Firm Performance Help the Best Firms Do Even Better?
Freeman, Richard B.; Kruse, Douglas L.; Blasi, Joseph R. - National Bureau of Economic Research (NBER) - 2012
This paper analyzes the linkages among group incentive methods of compensation, labor practices, worker assessments of … incentive pay employees participate more in decisions, have greater information sharing, trust supervisors more, and report a … more positive workplace culture than in other companies. The combination of group incentive pay with policies that empower …
Persistent link: https://www.econbiz.de/10009397142
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Executive Compensation: Facts
Cooley, Thomas; Clementi, Gian Luca - National Bureau of Economic Research (NBER) - 2009
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/10008627158
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Managerial Incentives and Value Creation: Evidence from Private Equity
Oyer, Paul; Leslie, Phillip - National Bureau of Economic Research (NBER) - 2008
We analyze the differences between companies owned by private equity (PE) investors and similar public companies. We document that PE-owned companies use much stronger incentives for their top executives and have substantially higher debt levels. However, we find little evidence that PE-owned...
Persistent link: https://www.econbiz.de/10005829305
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Executive Compensation: A New View from a Long-Term Perspective, 1936-2005
Frydman, Carola; Saks, Raven E. - National Bureau of Economic Research (NBER) - 2008
We analyze the long-run trends in executive compensation using a new panel dataset of top executives in large publicly-held firms from 1936 to 2005, collected from corporate reports. This historic perspective reveals several surprising new facts that conflict with inferences based only on data...
Persistent link: https://www.econbiz.de/10005829887
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Superstar CEOs
Malmendier, Ulrike; Tate, Geoffrey - National Bureau of Economic Research (NBER) - 2008
Compensation, status, and press coverage of managers in the U.S. follow a highly skewed distribution: a small number of 'superstars' enjoy the bulk of the rewards. We evaluate the impact of CEOs achieving superstar status on the performance of their firms, using prestigious business awards to...
Persistent link: https://www.econbiz.de/10005774763
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Wall Street and Main Street: What Contributes to the Rise in the Highest Incomes?
Kaplan, Steven N.; Rauh, Joshua - National Bureau of Economic Research (NBER) - 2007
We consider how much of the top end of the income distribution can be attributed to four sectors -- top executives of non-financial firms (Main Street); financial service sector employees from investment banks, hedge funds, private equity funds, and mutual funds (Wall Street); corporate lawyers;...
Persistent link: https://www.econbiz.de/10005777758
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The Dynamic Effects of Educational Accountability
Macartney, Hugh - National Bureau of Economic Research (NBER) - 2014
This paper provides the first evidence that value-added education accountability schemes induce dynamic distortions. Extending earlier dynamic moral hazard models, I propose a new test for ratchet effects, showing that classroom inputs are distorted less when schools face a shorter horizon over...
Persistent link: https://www.econbiz.de/10010744563
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CEO Compensation
Jenter, Dirk; Frydman, Carola - National Bureau of Economic Research (NBER) - 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/10008756461
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Pay Inequality, Pay Secrecy, and Effort: Theory and Evidence
Charness, Gary; Kuhn, Peter - National Bureau of Economic Research (NBER) - 2005
consequence, even though firms in our experiment tended to compress wages when wages became public information, this did not raise …
Persistent link: https://www.econbiz.de/10005828920