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How Does Corporate Governance Affect CEO Pay in Family and Non Family Firms
KO, Hin Cheung, Annie - 2015
The aim of this paper is to examine how family businesses and non-family businesses pay their CEOs differently and the … relationships among family firms, executive pay and corporate governance mechanisms. The empirical results show that compare with … non-family businesses, family businesses tend to grant more fixed compensation and less performance-based pay to their …
Persistent link: https://www.econbiz.de/10013013682
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Equity incentives, disclosure quality, and stock liquidity risk
Wruck, Karen H.; Wu, Yi Lin - 2017
We provide evidence that CEO equity incentives, especially stock options, influence stock liquidity risk via information disclosure quality. We document a negative association between CEO options and the quality of future managerial disclosure policy. Contributing to the literature on CEO...
Persistent link: https://www.econbiz.de/10011963233
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Do CEOs make their own luck? : relative versus absolute performance evaluation and firm risk
Wruck, Karen H.; Wu, Yi Lin - 2017 - Current Draft: 10/5/17
Influenced by their compensation plans, CEOs make their own luck through decisions that affect future firm risk. After adopting a relative performance evaluation (RPE) plan, total and idiosyncratic risk are higher, and the correlation between firm and industry performance is lower. The opposite...
Persistent link: https://www.econbiz.de/10011968863
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"I do": does marital status affect how much CEOs "do"?
Nicolosi, Gina; Yore, Adam S. - In: The financial review : the official publication of the … 50 (2015) 1, pp. 57-88
Persistent link: https://www.econbiz.de/10010503978
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The spouse effect and CEO risk-taking
Du, Qianqian; Li, Valerie; Wang, Lin - In: The journal of corporate accounting & finance 35 (2024) 1, pp. 166-177
Persistent link: https://www.econbiz.de/10014472282
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The market for CEOs
Cziraki, Peter; Jenter, Dirk - 2021
We study the market for CEOs of large publicly-traded US firms, analyze new CEOs' prior connections to the hiring firm, and explore how hiring choices are determined. Firms are hiring from a surprisingly small pool of candidates. More than 80% of new CEOs are insiders, defined as current or...
Persistent link: https://www.econbiz.de/10012546976
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CEO Talent, CEO Compensation, and Product Market Competition
Jung, Hae Won (Henny) - 2016
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...
Persistent link: https://www.econbiz.de/10012986527
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Why do U.S. CEOs pledge their own company's stock?
Fabisik, Kornelia - 2019
Between 2007 and 2016, 7.6% of publicly listed U.S. firms disclosed that their CEOs had pledged company stock as collateral for a loan. On average, CEOs pledge 38% of their shares. The mean loan value is an economically sizeable $65 million. CEOs use the funds to either double down (6.0%), hedge...
Persistent link: https://www.econbiz.de/10012134769
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CEO investment of deferred compensation plans and firm performance
Cambrea, Domenico Rocco; Colonnello, Stefano; Curatola, … - 2019 - This Draft: January 2019
We study how US chief executive officers (CEOs) invest their deferred compensation plans depending on the firm's profitability. By looking at the correlation between the CEO's return on these plans and the firm's stock return, we show that deferred compensation is to a large extent invested in...
Persistent link: https://www.econbiz.de/10012062043
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Clawback provisions and firm risk
Babenko, Ilona; Bennett, Benjamin; Bizjak, John M.; … - 2019
Panel OLS and GMM-IV estimates indicate that executives respond to the adoption of a compensation clawback provision by decreasing firm risk. The mechanisms that transmit incentives to decisions and decisions to risk appear to be more conservative investment and financial policies and preemptive...
Persistent link: https://www.econbiz.de/10012107693