Francis, Bill; Hasan, Iftekhar; John, Kose; Sharma, Zenu - In: Journal of Corporate Finance 23 (2013) C, pp. 39-53
This paper examines whether asymmetric benchmarking of pay exists for vice presidents (VPs). Using ExecuComp data for 1992–2007, we find that companies reward VPs for good luck but do not penalize them for bad luck. However, asymmetric benchmarking of VP pay is mitigated by governance, CEO...
