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Political corruption imposes substantial costs on U.S. firms and affects their behavior. Yet, we understand little about how it affects executive compensation. We provide causal evidence that local political corruption drives up CEOs’ compensation. The compensation premium consists of both...
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Political corruption imposes substantial costs on U.S. firms and affects their behavior. However, we understand little about how it affects executive compensation. We provide causal evidence that local political corruption drives up CEOs’ compensation. We show that a conspiracy theory is not...
Persistent link: https://www.econbiz.de/10014254681