Choe, Chongwoo; Tian, Gloria; Yin, Xiangkang - Department of Econometrics and Business Statistics, … - 2008
This paper studies theoretically and empirically the relation among CEO power, CEO compensation and firm performance …) when there is no constraint on the CEO's salary, the CEO's stock-based compensation and the pay-performance sensitivity of … CEO compensation are both independent of CEO power, although firm performance net of CEO compensation worsens as CEO power …