This article starts with an overview of the characteristics of chief executive officers (CEOs). I discuss the rising importance of general skills over firm-specific skills and the growing share of externally recruited CEOs. I also discuss possible reasons for the underrepresentation of women and...

We study the role of firm- and manager-specific heterogeneities in executive compensation. We decompose the variation in executive compensation and find that time invariant firm and especially manager fixed effects explain a majority of the variation in executive pay. We then show that in many...

This study examines whether bank risk is a factor influenced by chief executive officer (CEO) power and equity incentives and the interaction between these factors during 2005 through 2009 which marks the unraveling of the financial crisis. CEO power is measured with an index comprised of five...