T paper examines how different types of interactions with U.S. markets by non-U.S. firms are associated with higher levels of CEO pay, greater emphasis on incentive-based compensation, and smaller pay gaps with U.S. firms. Using a sample of CEOs of UK firms and using both broad cross-sectional and narrow eventwindow tests, we find that capital market relationship in the form of a U.S. exchange ...

Both authors contributed equally to the paper. The helpful comments of Jerry Davis, Paul Hirsch, Matt Kraatz, Joseph Moag, James Walsh, and seminar participants at MIT and Stanford University are appreciated. We also thank Ann Yoo for assistance in data collection. This study theoretically and empirically addresses the possible separation of substance and symbolism in CEO compensation contracts...

I broadly explore the question by examining several common criticisms of CEO pay through both philosophical and empirical lenses. While some criticisms appear to be unfounded, the analysis shows not only that current compensation practices are problematic both from the standpoint of distributive justice and fairness, but also that incentive pay ultimately exacerbates the very agency problem it ...

The current study examines the effect of ownership structure (i.e., government ownership, family and foreign ownership) on chief executive officer (CEO) compensation in an emerging market, by considering Jordan as a case study. By using sample 136 non-financial firms listed Amman Stock Exchange over period 2015–2019, we find that has positive significant impact CEO compensation. finding regardi...

This study extends current knowledge of upper echelon executive compensation beyond the CEO, specifically CFO compensation, based on whether they possess generalist or specialist skills. We find that “strategic” CFOs with an elite MBA (generalist) consistently command a compensation premium, while “accounting” CFOs (specialist) and CFOs with a non-MBA master’s degree, even from an elite institu...

IntroductIon Executive compensation is perhaps the most contentious issue in corporate governance today. Common consensus holds that CEOs of publicly traded U.S. corporations, particularly the largest U.S. corporations, are overpaid. It is also widely believed that the structure of CEO pay is inappropriate, that rewards are offered without regard to performance, and that compensation design enc...

The notion that female directors are better disposed to protect shareholders’ interests has brought boardroom gender diversity into the limelight. Echoing these emerging trends, this paper analyzes relationship between board diversity, i.e., proportion of on corporate board, and Chief Executive Officer’s (CEO) compensation. Consistent with conjecture, analysis suggests large diversified boards ...