Micro-Level Opportunity Structures as Determinants of Non-CEO Executive Pay
نویسندگان
چکیده
منابع مشابه
Equal Opportunity? Gender Gaps in CEO Appointments and Executive Pay
This paper uses exceptionally rich data on Swedish corporate executives and their personal characteristics to study gender gaps in CEO appointments and pay. Both gaps are sizeable: 18% for CEO appointments and 27% for pay. At most one-eight of the gaps can be attributed to observable gender differences in executives’ and their firms’ characteristics. Further tests suggest that unobservable gend...
متن کاملRestricting CEO Pay ∗
We analyze several proposals to restrict CEO compensation and calibrate two models of executive compensation that describe how rms would react to dierent types of restrictions. We nd that many restrictions would have unintended consequences. Restrictions on total realized (ex-post) payouts lead to higher average compensation, higher rewards for mediocre performance, lower risk-taking incentives...
متن کاملBasel III and CEO compensation in banks : Pay structures as a regulatory signal
This paper proposes a new regulatory approach that implements capital requirements contingent on managerial compensation. We argue that excessive risk taking in the financial sector originates from the shareholder moral hazard created by government guarantees rather than from corporate governance failures within banks. The idea of the proposed regulation is to utilize the compensation scheme to...
متن کاملHow (Not) to Pay Non-executive Directors
Performance pay, at least as usually understand, is no good idea for non-executive directors. They have to supervise and control or in some situations even to fire and replace the executive managers. This means that their performance as supervisors is totally different from the performance of the supervised executive managers and even the company at large. Moreover, they are mostly interested i...
متن کاملWealth Creation and Managerial Pay: MVA and EVA as Determinants of Executive Compensation
The design of incentive compatible executive-compensation policies is a crucial element for firms that seek a competitive advantage in an effort to maximize owner wealth. In this paper, we examine the relationship between executive compensation and measures of firm performance that capture the economic profit earned by the firm, namely, EVA and MVA. We test the hypothesis that after controlling...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2001
ISSN: 1556-5068
DOI: 10.2139/ssrn.281868