Executive compensation: Where we are, and how we got there
KJ Murphy - Handbook of the Economics of Finance, 2013 - Elsevier
In this study, I summarize the current state of executive compensation, discuss measurement
and incentive issues, document recent trends in executive pay in both US and international …
and incentive issues, document recent trends in executive pay in both US and international …
The executive turnover risk premium
We establish that CEOs of companies experiencing volatile industry conditions are more
likely to be dismissed. At the same time, accounting for various other factors, industry risk is …
likely to be dismissed. At the same time, accounting for various other factors, industry risk is …
Corporate cash holdings and CEO compensation incentives
We examine the effect of chief executive officer (CEO) compensation incentives on corporate
cash holdings and the value of cash to better understand how compensation incentives …
cash holdings and the value of cash to better understand how compensation incentives …
Are US CEOs paid more? New international evidence
This paper challenges the widely accepted stylized fact that chief executive officers (CEOs)
in the United States are paid significantly more than their foreign counterparts. Using CEO …
in the United States are paid significantly more than their foreign counterparts. Using CEO …
Executive compensation and incentives
MJ Conyon - Academy of Management Perspectives, 2006 - journals.aom.org
Executive Overview The objective of a properly designed executive compensation package
is to attract, retain, and motivate CEOs and senior management. The standard economic …
is to attract, retain, and motivate CEOs and senior management. The standard economic …
Lower salaries and no options? On the optimal structure of executive pay
I Dittmann, E Maug - The Journal of Finance, 2007 - Wiley Online Library
We calibrate the standard principal–agent model with constant relative risk aversion and
lognormal stock prices to a sample of 598 US CEOs. We show that this model predicts that …
lognormal stock prices to a sample of 598 US CEOs. We show that this model predicts that …
Are US CEOs paid more than UK CEOs? Inferences from risk-adjusted pay
We compute and compare risk-adjusted CEO pay in the United States and United Kingdom,
where the risk adjustment is based on estimated risk premiums stemming from the equity …
where the risk adjustment is based on estimated risk premiums stemming from the equity …
Incentive effects of stock and option holdings of target and acquirer CEOs
Acquisitions enable target chief executive officers (CEOs) to remove liquidity restrictions on
stock and option holdings and diminish the illiquidity discount. Acquisitions also enable …
stock and option holdings and diminish the illiquidity discount. Acquisitions also enable …
Locked-in: The effect of CEOs' capital gains taxes on corporate risk-taking
BP Yost - The Accounting Review, 2018 - publications.aaahq.org
ABSTRACT I study the effects of CEOs' unrealized capital gains tax liabilities (tax burdens)
on corporate risk-taking. Recent work suggests that high tax burdens discourage CEOs from …
on corporate risk-taking. Recent work suggests that high tax burdens discourage CEOs from …
Is CEO pay too high and are incentives too low? A wealth-based contracting framework
Executive Overview In the wake of the recent financial crisis, proposals have been put
forward to resolve “problems” with executive pay and incentives. Although these proposals …
forward to resolve “problems” with executive pay and incentives. Although these proposals …