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Firm Size and Executive Compensation

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  • Peter F. Kostiuk
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    Abstract

    Using several data sets, the relationship between executive income and firm size is shown to be relatively stable over time and in different countries. The elasticity of executive earnings to firm size is about the same today as it was in the 1930s, with evidence of a decline in the earnings of top executives, controlling for firm size. In addition to the effects of size and other firm and industry characteristics, there are returns to age and experience. There is also substantial variability in the level of compensation among firms of comparable size, indicating that there may be impediments to mobility.

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    Bibliographic Info

    Article provided by University of Wisconsin Press in its journal Journal of Human Resources.

    Volume (Year): 25 (1990)
    Issue (Month): 1 ()
    Pages: 90-105

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    Handle: RePEc:uwp:jhriss:v:25:y:1990:i:1:p:90-105

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    Web page: http://jhr.uwpress.org/

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    Cited by:
    1. Xavier Gabaix & Augustin Landier, 2006. "Why Has CEO Pay Increased So Much?," NBER Working Papers 12365, National Bureau of Economic Research, Inc.
    2. Marianne Bertrand & Kevin F. Hallock, 2000. "The Gender Gap in Top Corporate Jobs," NBER Working Papers 7931, National Bureau of Economic Research, Inc.
    3. Gian Luca Clementi & Thomas Cooley, 2010. "Executive Compensation: Facts," Working Papers 2010.89, Fondazione Eni Enrico Mattei.
    4. Yusuf Mohammed Nulla & Dimitris Nikolaou Koumparoulis, 2013. "CEO Compensation System in Large Canadian Financial Institutions," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(1), pages 137-155.
    5. George-Levi Gayle & Robert A. Miller, 2009. "Has Moral Hazard Become a More Important Factor in Managerial Compensation?," American Economic Review, American Economic Association, vol. 99(5), pages 1740-69, December.
    6. Kenneth W. Clements & H. Y. Izan, 2008. "The Stairway to the Top: The Remuneration of Academic Executives," Australian Journal of Management, Australian School of Business, vol. 33(1), pages 1-30, June.
    7. Tom Cooley & Sonia Di Giannatale & Gian Luca Clementi, 2008. "Total Executive Compensation," 2008 Meeting Papers 906, Society for Economic Dynamics.
    8. Randy Silvers & Raul Susmel, 2014. "Compensation of a Manager: The Case of Major League Baseball," Economics Series 2014_4, Deakin University, Faculty of Business and Law, School of Accounting, Economics and Finance.
    9. repec:fth:prinin:426 is not listed on IDEAS
    10. Humphery-Jenner, M., 2011. "Internal and External Discipline Following Securities Class Actions," Discussion Paper 2011-044, Tilburg University, Center for Economic Research.
    11. Xu, Peng, 1997. "Executive Salaries as Tournament Prizes and Executive Bonuses as Managerial Incentives in Japan," Journal of the Japanese and International Economies, Elsevier, vol. 11(3), pages 319-346, September.
    12. Xavier Gabaix, 2009. "Power Laws in Economics and Finance," Annual Review of Economics, Annual Reviews, vol. 1(1), pages 255-294, 05.
    13. Shams, Syed M.M. & Gunasekarage, Abeyratna & Colombage, Sisira R.N., 2013. "Does the organisational form of the target influence market reaction to acquisition announcements? Australian evidence," Pacific-Basin Finance Journal, Elsevier, vol. 24(C), pages 89-108.
    14. GraƟhoff, Ulrike & Schwalbach, Joachim, 1997. "Corporate restructuring, downsizing and managerial compensation," SFB 373 Discussion Papers 1998,35, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes.

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