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The relation between changes in CEO compensation and firm performance: A Japanese/American comparison

  • Mitsudome, Toshiaki
  • Weintrop, Joseph
  • Hwang, Lee-Seok
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    In this paper we compare the relations between the changes in the personal wealth of CEOs and firm performance among Japanese and American companies. Using a personal income measure imputed from annual personal income tax amounts for Japanese executives, we show that Japanese and US CEOs are rewarded for short-term changes in operating income and changes on shareholder wealth, and that the associations are similar for both groups. J. Japanese Int. Economies 22 (4) (2008) 605-619.

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    Article provided by Elsevier in its journal Journal of the Japanese and International Economies.

    Volume (Year): 22 (2008)
    Issue (Month): 4 (December)
    Pages: 605-619

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    Handle: RePEc:eee:jjieco:v:22:y:2008:i:4:p:605-619
    Contact details of provider: Web page: http://www.elsevier.com/locate/inca/622903

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    12. Kang, Jun-Koo & Shivdasani, Anil, 1995. "Firm performance, corporate governance, and top executive turnover in Japan," Journal of Financial Economics, Elsevier, vol. 38(1), pages 29-58, May.
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