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Long run trends in Australian executive remuneration: BHP 1887-2012

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  • Mike Pottenger
  • Andrew Leigh

Abstract

Outside the US, little is known of long-run trends in executive compensation. We fill this gap by studying BHP, a resources giant that has long been one of the largest companies on the Australian stock market. From 1887 to 2013, trends in CEO and director remuneration (relative to average earnings) follow a U-shape. This matches the pattern for US executive compensation, Australian top incomes, and (for the past two decades) average trends in executive compensation in top Australian firms. Like the US, Australia experienced a post-war 'great compression' prior to the recent 'great divergence'.

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Paper provided by Centre for Economic History, Research School of Economics, Australian National University in its series CEH Discussion Papers with number 017.

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Date of creation: Jul 2013
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Handle: RePEc:auu:hpaper:017

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  1. A.B. Atkinson & Andrew Leigh, 2006. "The Distribution of Top Incomes in Australia," CEPR Discussion Papers, Centre for Economic Policy Research, Research School of Economics, Australian National University 514, Centre for Economic Policy Research, Research School of Economics, Australian National University.
  2. Carola Frydman & Raven E. Saks, 2008. "Executive Compensation: A New View from a Long-Term Perspective, 1936-2005," NBER Working Papers 14145, National Bureau of Economic Research, Inc.
  3. Xavier Gabaix & Augustin Landier, 2006. "Why Has CEO Pay Increased So Much?," NBER Working Papers 12365, National Bureau of Economic Research, Inc.
  4. Goldin, Claudia & Margo, Robert A, 1992. "The Great Compression: The Wage Structure in the United States at Mid-century," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 107(1), pages 1-34, February.
  5. AfDB AfDB, . "AfDB Group Annual Report 2011 (Arabic)," Annual Report, African Development Bank, African Development Bank, number 394, 9.
  6. AfDB AfDB, . "AfDB Group Annual Report 2011," Annual Report, African Development Bank, African Development Bank, number 392, 9.
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