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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
-wage profile is much steeper than in domestic firms, especially for managers as opposed to blue-collar workers. Second, the higher … lifetime wage income for managers in internationally active firms relies on the stronger accumulation of experience that these …
Persistent link: https://www.econbiz.de/10012249047
-wage profile is much steeper than in domestic firms, especially for managers as opposed to blue-collar workers. Second, the higher … lifetime wage income for managers in internationally active firms relies on the stronger accumulation of experience that these …
Persistent link: https://www.econbiz.de/10012249457
Executives' compensation has been on the forefront of the public and political debate since the recent financial crisis. One of the measures publicly discussed is a general upper boundary to top management compensation packages (“salary cap”, “maximum wage”). While such measures are...
Persistent link: https://www.econbiz.de/10011747365
Understanding CEO compensation plans is a continuing challenge for directors and investors. The disclosure of these plans is dictated by SEC rules that rely heavily on the “fair value” of awards at the time they are granted. The problem with these numbers is that they are static and do not...
Persistent link: https://www.econbiz.de/10011870307
extent to which managers' compensation was affected by the economic crisis and the extent to which it increased afterwards … perspective. We also examine that certain parts of managers seem to have more power to influence their compensation than others …. Inequality in managers' compensation decreased during the crisis. …
Persistent link: https://www.econbiz.de/10009754706
In diesem Aufsatz untersuchen wir das Wachstum der Vorstandsvergütung in den vergangenen 15 Jahren und stellen uns die Frage, wie sich die Vorstandsvergütung in der Zukunft entwickeln könnte. Wir vermuten, dass die Einführung von Long-Term-Incentives (LTI) in Form von Aktienoptionsplänen,...
Persistent link: https://www.econbiz.de/10008939163
This paper provides the first rigorous econometric estimates on the pay-performance relations for executives of Korean firms with and without Chaebol affiliation. To do so, we have assembled for the first time panel data (that provide information not only on executive compensation and firm...
Persistent link: https://www.econbiz.de/10003225965
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
The competitive target pay policy sets a target dollar number for total CEO compensation within a specified range of the amounts paid to a CEO’s peers chosen from similar sized firms in the same industry. If such a policy were widely adopted by compensation committees, we would observe a...
Persistent link: https://www.econbiz.de/10014351180