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The battle for talent: globalisation and the rise of executive pay

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  • Dalia Marin

Abstract

This paper explores the role of globalisation in the rise of executive pay in Austria and Germany. According to Dalia Marin, firms more exposed to international competition engage in talent fairs to search and attract skilled workers. She also finds that seniority related pay varies for different levels of foreign competition suggesting that firms increase CEO pay when faced with the threat of losing their senior executives, while seniority in office itself does not lead to higher pay. These findings support the idea of a ‘war for talent‘ that is triggered by international trade.

Suggested Citation

  • Dalia Marin, 2009. "The battle for talent: globalisation and the rise of executive pay," Working Papers 236, Bruegel.
  • Handle: RePEc:bre:wpaper:236
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    References listed on IDEAS

    as
    1. Xavier Gabaix & Augustin Landier, 2008. "Why has CEO Pay Increased So Much?," The Quarterly Journal of Economics, Oxford University Press, vol. 123(1), pages 49-100.
    2. Dalia Marin & Thierry Verdier, 2003. "Globalization and the New Enterprise," Journal of the European Economic Association, MIT Press, vol. 1(2-3), pages 337-344, 04/05.
    3. Dalia Marin, 2006. "A New International Division of Labor in Europe: Outsourcing and Offshoring to Eastern Europe," Journal of the European Economic Association, MIT Press, vol. 4(2-3), pages 612-622, 04-05.
    4. Carola Frydman & Raven E. Saks, 2010. "Executive Compensation: A New View from a Long-Term Perspective, 1936--2005," Review of Financial Studies, Society for Financial Studies, vol. 23(5), pages 2099-2138.
    5. Marin, Dalia & Verdier, Thierry, 2006. "Corporate Hierarchies and the Size of Nations: Theory and Evidence," Discussion Papers in Economics 1346, University of Munich, Department of Economics.
    6. Cuñat, Vicente & Guadalupe, Maria, 2006. "Globalization and the Provision of Incentives Inside the Firm," CEPR Discussion Papers 5950, C.E.P.R. Discussion Papers.
    7. Marin, Dalia, 2008. "The New Corporation in Europe," Munich Reprints in Economics 19242, University of Munich, Department of Economics.
    8. Barbara Spencer, 2005. "International outsourcing and incomplete contracts," Canadian Journal of Economics, Canadian Economics Association, vol. 38(4), pages 1107-1135, November.
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    Cited by:

    1. Fabbri, Francesca & Marin, Dalia, 2012. "What Explains the Rise in CEO Pay in Germany? A Panel Data Analysis for 1977-2009," IZA Discussion Papers 6420, Institute for the Study of Labor (IZA).
    2. Marin, Dalia, 2012. "The Theory of the Firm goes Global," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 370, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
    3. Marin, Dalia & Rousová, Linda, 2011. "The Organization of European Multinationals," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 367, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.

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