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We examine the effect of elite connections on CEO pay and turnover decisions, using a large sample of Chinese listed firms. Our findings show that CEOs of private listed firms benefit from significantly higher salaries (a 25% increase), consistent with the resource dependence theory, whereas the...
Persistent link: https://www.econbiz.de/10014257175
In recent decades, most developed countries have experienced a simultaneous increase in income inequality and management compensation. In this paper, we study the relation between management compensation and firm-level income dynamics in a general equilibrium model. Empirical estimation, of the...
Persistent link: https://www.econbiz.de/10003754931
In recent years, a large academic debate has tried to explain the rapid rise in CEO pay experienced over the past three decades. In this article, I review the main proposed theories, which span views of compensation as the result of a competitive labor market for executives to theories based on...
Persistent link: https://www.econbiz.de/10003790763
In recent years, a large academic debate has tried to explain the rapid rise in CEO pay experienced over the past three decades. In this article, I review the main proposed theories, which span views of compensation as the result of a competitive labor market for executives to theories based on...
Persistent link: https://www.econbiz.de/10003892352
Persistent link: https://www.econbiz.de/10003905290
Persistent link: https://www.econbiz.de/10011547932
Persistent link: https://www.econbiz.de/10011447097
American business seems to be infatuated with its workers' "leadership" skills. Is there such a thing, and is it … leadership positions in high school earn more as adults, even when cognitive skills are held constant. The pure leadership … adults, and leadership skills command a higher wage premium within managerial occupations than other jobs. We find evidence …
Persistent link: https://www.econbiz.de/10011411183
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