Corporate governance literature suggests that the relationship between CEO effort and outcomes such as firm performance is highly uncertain due to the influence of numerous organizational and environmental contingencies that are outside CEOs control. The major focus of this study is to determine...

This paper focuses on the pay level of the highest paid executive directors, which we label as "Executive Director's Organizational Level" (henceforth EDOL), to raise the question if highest paid CEOs invest heavily in innovative projects. Two-stage least squares (2SLS) regressions show that...

Corporate governance literature suggests that the relationship between CEO effort and outcomes such as firm performance is highly uncertain due to the influence of numerous organizational and environmental contingencies that are outside CEOs control. The major focus of this study is to determine...

The objective of the paper is to develop deeper insight into how the firm¡¯s incentive systems are designed and, whether the CEOs compensation pay-to-performance schemes really align the incentives of executives and shareholders. Logit and Stepwise regressions on executive compensation data of...