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A Structural Estimation of the Cost of Suboptimal Matching in the CEO Labor Market

Nickerson, Jordan - 2013

Using a structural model, I examine the distortionary effects of frictions in the CEO labor market. Firms experience productivity shocks over time and either outgrow or underutilize their incumbent CEO's talent, but keep their manager to avoid a switching cost. The decision to replace a manager...

Persistent link: https://www.econbiz.de/10013072798

Do Frictions Matter in the Market for Chief Executives?

Chollete, Lorán; Merkurieva, Irina - 2021

The chief executive officers (CEOs) of public companies receive generous compensation packages that grow substantially … predicted by frictionless assignment models. To understand the factors behind compensation growth and account for potential job … surplus. Headhunting explains approximately 25% of the steady state growth of executive compensation. In contrast with static …

Persistent link: https://www.econbiz.de/10013211605

Market Forces and CEO Pay : Shocks to CEO Demand Induced by IPO Waves

Nickerson, Jordan - 2017

I develop a simple competitive equilibrium model and derive the prediction that CEO pay-size elasticity increases when more firms compete for an inelastic supply of managers. Using industry-level IPO waves as a proxy for increased competition for CEOs, I find that pay-size elasticity increases...

Persistent link: https://www.econbiz.de/10012973768

An activist view of CEO compensation

Baum, Alex; Hale, Robert; Morfit, Mason; Larcker, David F. - 2017

Understanding CEO compensation plans is a continuing challenge for directors and investors. The disclosure of these … compensation figures in the annual proxy, allowing for a step-by-step evaluation of the conditions under which variable pay is …

Persistent link: https://www.econbiz.de/10011870307

Social comparison and reciprocity in director compensation

Boivie, Steven; Bednar, Michael K.; Barker, Steven B. - In: Journal of management : JOM 41 (2015) 6, pp. 1578-1603

Persistent link: https://www.econbiz.de/10011339756

Social exchange and the effects of employee stock options

Cappelli, Peter; Conyon, Martin J.; Almeda, David - In: ILR review : a publication of the New York State School … 73 (2020) 1, pp. 124-152

Persistent link: https://www.econbiz.de/10012180866

Output-Based Pay: Incentives, Retention or Sorting?

Lazear, Edward P. - 2003

compensation in the form of variable pay. The selection or sorting explanation is consistent with the low elasticities of pay to … stock options are a larger proportion of total compensation for higher level employees. The explanation fits small firms and …

Persistent link: https://www.econbiz.de/10010262719

Managerial talent, motivation, and self-selection into public management

Delfgaauw, Josse; Dur, Robert - 2008

The quality of public management is a recurrent concern in many countries. Calls to attract the economy's best and brightest managers to the public sector abound. This paper studies self-selection into managerial and non-managerial positions in the public and private sector, using a model of a...

Persistent link: https://www.econbiz.de/10010264466

Principal accountability at private secondary schools

Billger, Sherrilyn M. - 2007

Increasing interest in voucher programs and privatizing public schools reveals a commonly-held belief that private schools are better able to produce a quality education. While state and national standards do not directly affect these schools, their private control yields strong student...

Persistent link: https://www.econbiz.de/10010268667

Management compensation and firm-level income inequality

Frederiksen, Anders; Poulsen, Odile - 2008

management compensation. In this paper, we study the relation between management compensation and firm-level income dynamics in a …

Persistent link: https://www.econbiz.de/10010268874