n this paper we examine the agency costs of seemingly excessive pay awards to CEO's within the FTSE 100 in the last decade. Are CEOs taking a large proportion of the total pot (a big "pay slice") more, or less, able to return value to shareholders by better management? In presenting this...

Using British linked employer-employee data, we show that the establishment size effect for supervisors is approximately twice that for non-supervisors. This difference is routinely statistically significant, not explained by other controls and is an important determinant of the difference in...