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The large compensation received by bank executives is among the many factors blamed for the risk-taking that led to the 2008-2009 financial crisis. We test whether and how pay disparities between CEO and non-CEO executives—the so-called CEO pay gap—influenced risk taking at publicly traded...
Persistent link: https://www.econbiz.de/10012858941
Chief Executive Officers (CEOs). Commentators and the financial press have been quick to argue that such differences are the … theorists, American CEOs orchestrate the appointments of friendly, passive outside directors, and their obedient subordinates as …, because foreign CEOs don't have the same power over their boards. In most foreign corporations, control shareholders act as …
Persistent link: https://www.econbiz.de/10014030943
Based on the recent SEC-mandated disclosures of CEO-worker pay ratios, we find that firms significantly decrease (increase) their CEO-worker pay ratios when their prior pay ratios are high (low) relative to peers. More importantly, the decrease in pay ratio among high pay ratio firms is...
Persistent link: https://www.econbiz.de/10014348601
This paper offers a new explanation of the gender pay gap in leadership positions by examining the relationship between managerial bonuses and company performance. Drawing on findings of gender studies, agency theory, and the leadership literature, we argue that the gender pay gap is a...
Persistent link: https://www.econbiz.de/10013116522
I develop measures of firm-level pay disparity and examine their relation to firm performance. Using comprehensive compensation data for a large sample of firms, I find no statistically significant relation between the ratio of CEO-to-mean employee compensation and performance. I next create...
Persistent link: https://www.econbiz.de/10011901700
This paper examines the effects of board affiliation on the corporate pay gap. Using a sample of Chinese listed firms from 2005 to 2011, we find that boards with a greater presence of directors appointed by block shareholders have lower pay gaps. Furthermore, the governance effects of board...
Persistent link: https://www.econbiz.de/10011843869
. Lastly, our evidence suggests that women directors in China are not underpaid …
Persistent link: https://www.econbiz.de/10012931880
Persistent link: https://www.econbiz.de/10014259069
Greater gender diversity on bank board of directors is associated with higher compensation inequality because CEOs at …
Persistent link: https://www.econbiz.de/10012918328
Persistent link: https://www.econbiz.de/10010475474