This chapter summarizes the empirical and theoretical research on executive compensation and provides a comprehensive and up-to-date description of pay practices (and trends in pay practices) for chief executive officers (CEOs). Topics discussed include the level and structure of CEO pay (including detailed analyses of annual bonus plans, executive stock options, and option valuation), international pay differences, the pay-setting process, the relation between CEO pay and firm performance ("pay-performance sensitivities"), the relation between sensitivities and subsequent firm performance, relative performance evaluation, executive turnover, and the politics of CEO pay.
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ReDIF This chapter was published in: O. Ashenfelter & D. Card (ed.) Handbook of Labor Economics, , chapter 38, pages 2485-2563, 1999.
For technical questions regarding this item, or to correct its listing, contact: (Heidi Boesdal).
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This chapter was published in the following book, which is listed on IDEAS: O. Ashenfelter & D. Card (ed.), 1999.
"Handbook of Labor Economics,"
Handbook of Labor Economics,
Elsevier,
edition 1, volume 3, number 3, September.
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