We develop a measurement-error framework for assessing the quality of relative-performance metrics designed to filter out the systematic component of performance, and analyze relative total shareholder return (rTSR)-the predominant metric market participants use to isolate managers'...

How should the quality of government be measured across disparate national contexts? This study develops a new approach using an original survey of Chinese civil servants and a comparison to the United States. We surveyed over 2,500 Chinese officials on two organizational features of their...

In this paper, I argue that firms mutually recognizing each other as compensation benchmarking peers constitute viable competitors in the same CEO labor market, and that non-mutual peer relationships can serve as a tool to evaluate firms' executive compensation practices. In particular, I ask...

We examine whether and to what extent managers are evaluated, in their relative performance contracts, on the basis of systematic performance. Focusing on relative total shareholder returns (rTSR), the predominant metric specified in these contracts and used by market participants to evaluate...