Armstrong, Christopher; Gow, Ian D.; Larcker, David F. - 2012 - Draft: March 13, 2012
This study examines the effects of shareholder support for equity compensation plans on subsequent chief executive … officer (CEO) compensation. Using cross-sectional regression, instrumental variable, and regression discontinuity research … compensation plans leads to decreases in the level or composition of future CEO incentive-compensation. We also find that in cases …