Do Common Inherited Beliefs and Values Influence CEO Pay?

We use the ethnicity of CEOs across 31 countries as a proxy for their common inherited beliefs and values and find an ethnicity effect in CEO variable pay. We find that the ethnicity effect in variable pay is not driven by the ethnicity effects in corporate policy decisions, and that changes in CEO compensation are significantly larger when CEOs are replaced with a person from a different ethnicity. Our estimated ethnicity effect captures the future time reference and religion of CEOs' ancestors. Finally, we find an ethnicity effect in performance-firing sensitivities (i.e., the sensitivity to being fired due to poor performance)

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Year of publication:	2017
Authors:	Ellahie, Atif
Other Persons:	Tahoun, Ahmed (contributor) ; Tuna, A. Irem (contributor)
Publisher:	[2017]: [S.l.] : SSRN
Subject:	Führungskräfte \| Managers \| Managervergütung \| Executive compensation \| Soziale Werte \| Social values

Extent:	1 Online-Ressource (56 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Journal of Accounting & Economics, 2017, 64 (2-3), 346-367 Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments September 25, 2017 erstellt
Other identifiers:	10.2139/ssrn.2583952 [DOI]
Classification:	G30 - Corporate Finance and Governance. General ; J15 - Economics of Minorities and Races ; J33 - Compensation Packages; Payment Methods ; Z10 - Cultural Economics. General
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10012971977