Remuneration

Executive Remuneration in the EU: Comparative Law and Practice

Executive pay practices are currently a "cause celebre" of corporate governance in the media, among regulators, in the marketplace, and in academia, in...

Bank CEO Incentives and the Credit Crisis

Generalists versus Specialists: Lifetime Work Experience and CEO Pay

We show that pay is higher for CEOs with general managerial skills gathered during lifetime work experience. We use CEOs’ résumés of S&P 1,500...

Executive Compensation: A Modern Primer

This article studies traditional and modern theories of executive compensation, bringing them together under a simple unifying framework accessible...

Do Institutional Investors Monitor their Large-Scale vs. Small-Scale Investments Differently? Evidence from the Say-On-Pay Vote

We examine the relation between an institution’s stock ownership and its tendency to support corporate management through the “Say-on-Pay”...

Wage gap and stock returns: Do investors dislike pay inequality?

Recent research shows that a high wage-gap between managers and workers identifies better-performing firms, but the stock market does not seem to price...

Board Compensation and Firm Performance: The Role of 'Independent' Board Members

Comparing CEO Employment Contract Provisions: Differences between Australia and the U.S.

This study compares CEO employment contracts across two common law countries: the United States and Australia. Although the regulatory regimes of...

Are Female Top Managers Really Paid Less?

Are female top managers paid less than their male counterparts? Is the gender gap higher in male-dominated industries? What effect on pay do female...

Understanding Directors' Pay in Europe: A Comparative and Empirical Analysis

This paper analyses the regulatory framework which applies to the determination of directors’ remuneration in Europe and the extent to which...

CEO Power, Compensation, and Governance

This paper presents a contracting model of governance based on the premise that CEOs are the main promoters of governance change. CEOs use their power to...

Executive Compensation: When a Firm is a Business Group Member

This paper examines how executive pay is set when a firm is a business group member. Using Korea as a laboratory setting, we find that member firm?s cash...