We examine the effects of nonmonetary benefits on overall executive compensation from the perspective of the living environment at the firm headquarters. Companies in polluted, high crime-rate or otherwise unpleasant places pay higher compensation to their CEOs than companies locating in more...

We analyze a simple model of board voting and find that in comparison to boards with an even number of directors (even boards), those with an odd number of directors (odd boards) improve voting efficiency by better aggregating directors' information. Consistent with the model's implications, our...