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来源类型Working Paper
规范类型报告
DOI10.3386/w16585
来源IDWorking Paper 16585
CEO Compensation
Carola Frydman; Dirk Jenter
发表日期2010-12-02
出版年2010
语种英语
摘要This paper surveys the recent literature on CEO compensation. The rapid rise in CEO pay over the past 30 years has sparked an intense debate about the nature of the pay-setting process. Many view the high level of CEO compensation as the result of powerful managers setting their own pay. Others interpret high pay as the result of optimal contracting in a competitive market for managerial talent. We describe and discuss the empirical evidence on the evolution of CEO pay and on the relationship between pay and firm performance since the 1930s. Our review suggests that both managerial power and competitive market forces are important determinants of CEO pay, but that neither approach is fully consistent with the available evidence. We briefly discuss promising directions for future research.
主题Financial Economics ; Corporate Finance ; Labor Economics ; Labor Compensation ; Other ; Accounting, Marketing, and Personnel
URLhttps://www.nber.org/papers/w16585
来源智库National Bureau of Economic Research (United States)
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资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/574260
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GB/T 7714
Carola Frydman,Dirk Jenter. CEO Compensation. 2010.
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