| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP12026 |
| DP12026 Globalization and Executive Compensation | |
| Wolfgang Keller; Will Olney | |
| 发表日期 | 2017-05-06 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | Employing comprehensive data on top executives at major U.S. companies, we show that their compensation is increasing with exports, as well as firm size and technology. Exogenous export shocks unrelated to managerial decisions also increase executive compensation, and there is little evidence that this is due to increasing returns to talent. We do find that export shocks primarily affect discretionary forms of compensation of more powerful executives at firms with poor corporate governance, as one would expect if globalization has enhanced rent-capture opportunities. Overall, globalization has been more important for the rapid growth of executive compensation and U.S. inequality than previously thought, with rent-capture playing a role. |
| 主题 | Financial Economics ; International Trade and Regional Economics ; Labour Economics |
| 关键词 | Inequality Globalization Executive compensation Corporate governance Distributional effects |
| URL | https://cepr.org/publications/dp12026 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/540838 |
| 推荐引用方式 GB/T 7714 | Wolfgang Keller,Will Olney. DP12026 Globalization and Executive Compensation. 2017. |
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