Remuneration

Remuneration: Where We've Been, How We Got to Here, What are the Problems, and How to Fix Them

Revisiting Executive Pay in Family-Controlled Firms: Family Premium in Large Business Groups

According to the prior literature, family executives of family-controlled firms receive lower compensation than non-family executives. One of the...

The Wages of Failure: Executive Compensation at Bear Stearns and Lehman 2000-2008

The standard narrative of the meltdown of Bear Stearns and Lehman Brothers assumes that the wealth of the top executives of these firms was largely wiped...

Bank Governance

According to a common narrative, in addition to inadequate capital and liquidity, the failure of banks in the financial crisis also reflected their poor...

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...

Economics, Politics, and the International Principles for Sound CompensationPractices. An Analysis of Executive Pay at European Banks

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...

How do Executives Exercise Their Stock Options?

We analyze how 14,000 US top executives exercise their stock options. Factors suggested by existing theories have low or moderate explanatory power....

Executive Remuneration and the Payout Decision

We analyze the payout channel choice of listed UK firms and examine whether the choice between dividends, share repurchases, a combination of payout...

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...

The International Scope of Say on Pay

Shareholders have long complained that top executives are overpaid by corporate directors irrespective of their performance. Largely powerless to...