This paper studies the impact of external reference values on managerial compensation contracts. We consider the effect of adoption of non-binding pay nfirms on actal remuneration behavior using a unique country example. We find that introduction of pay nfirms changed the reference values for...

The paper presents a synthesis of contemporary performance measurement systems (PMS) research in Central and Eastern Europe (CEE). The literature review is organized around four determinants of contemporary PMS: multidimensionality, strategic focus, cascading, and alignment between PMS and...