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Managerial Pay and Executive Turnover in the Czech and Slovak Republics

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  • Eriksson, Tor

    () (Department of Economics, Aarhus School of Business)

Abstract

Despite the crucial role played by managers in changing the functioning of labour markets in transition economies, research on the determinants of executive pay and CEO turnover in these countries is almost non-existent. The current paper aims at adding to this minuscule literature. For this purpose I make use of a unique data set containing relevant firm-manager information from the Czech and Slovak Republics in the late nineties. This allows me to examine the influence of individual and in particular firm characteristics, such as, size, ownership type, industry and region, as well as corporate performance on chief executive compensation levels and changes therein and on the probability of the executive being turned over.

Suggested Citation

  • Eriksson, Tor, 2003. "Managerial Pay and Executive Turnover in the Czech and Slovak Republics," Working Papers 03-3, University of Aarhus, Aarhus School of Business, Department of Economics.
  • Handle: RePEc:hhs:aareco:2003_003
    Note: Published in: Economics of Transition, 2005 (13), 659-677
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    File URL: http://www.hha.dk/nat/WPER/03-3_te.pdf
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    Citations

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    Cited by:

    1. DIBRA, Rezart, 2013. "Corporate Governance In Various Transition Economies," Academica Science Journal, Economica Series, Dimitrie Cantemir University, Faculty of Economical Science, vol. 2(3), pages 21-33, December.
    2. Muravyev, Alexander & Bilyk, Olga & Grechaniuk, Bogdana, 2009. "Firm Performance and Managerial Turnover: The Case of Ukraine," MPRA Paper 13685, University Library of Munich, Germany.
    3. Kato, Takao & Long, Cheryl, 2006. "CEO Turnover, Firm Performance and Enterprise Reform in China: Evidence from New Micro Data," IZA Discussion Papers 1914, Institute for the Study of Labor (IZA).
    4. Štěpán Jurajda & Juraj Stančík, 2013. "Organization and Firm Performance in the Czech Republic," Prague Economic Papers, University of Economics, Prague, vol. 2013(1), pages 85-110.
    5. Sándor Gardó, 2010. "Bank Governance and Financial Stability in CESEE: A Review of the Literature," Focus on European Economic Integration, Oesterreichische Nationalbank (Austrian Central Bank), issue 1, pages 6-31.
    6. Kato, Takao & Long, Cheryl, 2006. "CEO turnover, firm performance, and enterprise reform in China: Evidence from micro data," Journal of Comparative Economics, Elsevier, vol. 34(4), pages 796-817, December.
    7. Stepan Jurajda & Teodora Paligorova, 2006. "Female Managers and Their Wages in Central Europe," CERGE-EI Working Papers wp296, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    8. Liang, Hao & Renneboog, Luc & Sun, Sunny Li, 2015. "The political determinants of executive compensation: Evidence from an emerging economy," Emerging Markets Review, Elsevier, vol. 25(C), pages 69-91.
    9. Kato, Takao & Long, Cheryl, 2011. "Tournaments and managerial incentives in China's listed firms: New evidence," China Economic Review, Elsevier, vol. 22(1), pages 1-10, March.
    10. repec:onb:oenbwp:y:2010:i:1:b:1 is not listed on IDEAS
    11. repec:prg:jnlpep:v:2017:y:2017:i:6:id:628:p:646-660 is not listed on IDEAS
    12. Jurajda, Stepán & Paligorova, Teodora, 2009. "Czech female managers and their wages," Labour Economics, Elsevier, vol. 16(3), pages 342-351, June.
    13. Weiwen Li & Yuan Lu, 2012. "CEO dismissal, institutional development, and environmental dynamism," Asia Pacific Journal of Management, Springer, vol. 29(4), pages 1007-1026, December.
    14. Aleksandra Gregoric & Saso Polanec & Sergeja Slapnicar, 2008. "Pay me Right: Reference Values and Executive Compensation," LICOS Discussion Papers 22008, LICOS - Centre for Institutions and Economic Performance, KU Leuven.
    15. Horváthová, Eva, 2012. "The impact of environmental performance on firm performance: Short-term costs and long-term benefits?," Ecological Economics, Elsevier, vol. 84(C), pages 91-97.
    16. repec:prg:jnlpep:v:preprint:id:628:p:1-15 is not listed on IDEAS
    17. Kato, Takao & Kubo, Katsuyuki, 2006. "CEO compensation and firm performance in Japan: Evidence from new panel data on individual CEO pay," Journal of the Japanese and International Economies, Elsevier, vol. 20(1), pages 1-19, March.

    More about this item

    Keywords

    Managerial Compensation; CEO Turnover; Corporate Performance;

    JEL classification:

    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
    • J44 - Labor and Demographic Economics - - Particular Labor Markets - - - Professional Labor Markets and Occupations
    • M52 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Compensation and Compensation Methods and Their Effects
    • P31 - Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions

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