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The Impact of Financial Distress on CEO Compensation in the United States
Verhasselt, Gertjan - 2017
This M.A. dissertation presents a study of the influence of financial distress on CEO compensation in the United States. It focuses on the four main components of executive compensation: salary, bonus, restricted stock and stock options. More specifically, I apply linear regression to panel data...
Persistent link: https://www.econbiz.de/10012944997
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3-Year Pay-for-Performance Analysis of the Largest 100 US Companies
Stern, Hermann J. - 2012
This paper is a summary of the findings of analyzing pay and performance for the largest 100 companies from 2009-2011 (3 years). Performance is measured by indexed Total Shareholder Return and indexed Operating Cash Flow Growth. CEO total realized pay is used as the pay metric. The research...
Persistent link: https://www.econbiz.de/10013110296
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M&A Decisions and U.S. Firms’ Voluntary Adoption of Clawback Provisions in Executive Compensation Contracts
Brown, Anna Bergman - 2016
We examine whether U.S. firms' M&A decisions influence the likelihood of voluntary adoption of clawback provisions in executive compensation contracts and whether clawback adoption improves subsequent M&A decisions. Because prior research finds that poor M&A decisions are associated with future...
Persistent link: https://www.econbiz.de/10013008597
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The effect of the Sarbanes-Oxley Act on CEO pay for luck
Paligorova, Teodora (contributor) - 2008
According to the rent-extraction hypothesis, weak corporate governance allows entrenched CEOs to capture the pay-setting process and benefit from events outside of their controlget paid for luck. In this paper, I find that the independence requirement imposed on boards of directors by the...
Persistent link: https://www.econbiz.de/10003721284
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Has moral hazard become a more important factor in managerial compensation?
Gayle, George-Levi; Miller, Robert Allen - In: The American economic review 99 (2009) 5, pp. 1740-1769
Persistent link: https://www.econbiz.de/10003936335
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Low interest rates and executive risk-taking incentives : evidence from the United States
Castro, Paula; Tascon, Maria T.; Castaño, Francisco J.; … - In: Business research quarterly : BRQ 24 (2021) 4, pp. 324-354
incentives of US managers to adopt riskier business policies. Specifically, based on the agency problems between shareholders and … managers and between shareholders and creditors, a research framework is developed to identify the influence of low interest … rates on managers’ risk-taking incentives proxied by the sensitivity of executive compensation to stock return volatility …
Persistent link: https://www.econbiz.de/10012694415
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Gender and dynamic agency : theory and evidence on the compensation of top executives
Albanesi, Stefania; Olivetti, Claudia; Prados, María José - 2015
We document three new facts about gender differences in executive compensation. First, female executives receive a lower share of incentive pay in total compensation relative to males. This difference accounts for 93 percent of the gender gap in total pay. Second, the compensation of female...
Persistent link: https://www.econbiz.de/10010500689
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Is U.S. CEO Compensation Broken?
Core, John E.; Guay, Wayne R.; Thomas, Randall S. - 2023
Critics of U.S. executive pay practices have raised four major concerns: (1) executive pay is too high; (2) CEO contracts do not provide strong enough incentives to increase value (i.e., there is too little pay-for-performance); (3) options and other equity-based pay provide windfalls, large...
Persistent link: https://www.econbiz.de/10014254436
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Complementarity of performance pay and task allocation
Hong, Bryan; Küng, Lorenz; Yang, Mu-Jeung - 2016
Complementarity between performance pay and other organizational design elements has been argued to be one potential explanation for stark differences in the observed productivity gains from performance pay adoption. Using detailed data on internal organization for a nationally representative...
Persistent link: https://www.econbiz.de/10012219318
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Social connections and incentives in the workplace : evidence from personnel data
Bandiera, Oriana (contributor); Barankay, Iwan (contributor) - 2008
We present evidence on the effect of social connections between workers and managers on productivity in the workplace … workers managed. We find that when managers are paid fixed wages, they favor workers to whom they are socially connected …
Persistent link: https://www.econbiz.de/10003793735