Total Executive Compensation
contract. We focus our attention on testable implications: (i) the relationship between compensation and firm size, (ii) the relative importance of current and deferred compensation, (iii) the sensitivity of compensation to innovations in shareholder wealth, and (iv) the relationship between such sensitivity and size. Very preliminary results show that when the marginal product of managerial effort is increasing in capital, our model is consistent with facts (i), (iii), and (iv).
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- Peter F. Kostiuk, 1990. "Firm Size and Executive Compensation," Journal of Human Resources, University of Wisconsin Press, vol. 25(1), pages 90-105.
- Lucian Bebchuk, 2005.
"The Growth of Executive Pay,"
Oxford Review of Economic Policy,
Oxford University Press, vol. 21(2), pages 283-303, Summer.
- Frydman, Carola & Jenter, Dirk, 2010.
2069, Stanford University, Graduate School of Business.
- Marko Tervio, 2008. "The Difference That CEOs Make: An Assignment Model Approach," American Economic Review, American Economic Association, vol. 98(3), pages 642-68, June.
- Spear, Stephen E & Srivastava, Sanjay, 1987. "On Repeated Moral Hazard with Discounting," Review of Economic Studies, Wiley Blackwell, vol. 54(4), pages 599-617, October.
- Xavier Gabaix & Augustin Landier, 2008.
"Why Has CEO Pay Increased So Much?,"
The Quarterly Journal of Economics,
MIT Press, vol. 123(1), pages 49-100, 02.
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