We develop a structural industry equilibrium model to show how competitive CEO-firm matching and product markets jointly determine firm value and CEO pay. We analytically derive testable implications for the effects of product market characteristics on firm size, CEO pay, and CEO impact on firm...

Stakeholders are increasingly concerned with the social and environmental impacts of modern corporations. These concerns have led to directly incentivizing CEOs by making their pay contingent on ESG outcomes. In this paper, we propose to examine the implications of ESG-linked pay on the CEO...

We study the pay of UK universities chief executives ("vice-chancellors") over a ten year period. Although there is a correlation between pay and performance, with better performing institutions paying higher salaries, we find limited evidence that this relationship is causal; that is, we find...