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The corporate governance debate has focused recently on executive compensation. While defenders of the status quo assert that CEO compensation - and corporate governance generally - is efficient, critics contend that boards have been captured by powerful CEOs who demand excessive pay...
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Board quality is likely to have an important influence on CEO compensation. However, there has been little investigation in the literature. We examine the relationship between the quality of boards, pay and pay allocation (incentive versus fixed, CEO versus executives below CEO) of executive...
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