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We analyze the effect of CEO pay disclosure on wage distribution by exploiting a 1998 reform requiring Italian publicly listed companies to disclose top executives' compensation. In firms where CEOs disclose high total compensation, the top 5 percent and 1 percent of the within-firm wage...
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mitigated by pay-for-performance incentives for managers who decide upon promotion. Second, we analyze matched employer … indeed substantially higher when managers receive performance-related pay or participate in gain sharing plans …
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