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'superstars' enjoy the bulk of the rewards. We evaluate the impact of CEOs achieving superstar status on the performance of their … underperform, both relative to their prior performance and relative to a matched sample of non-winning CEOs. At the same time, they …
Persistent link: https://www.econbiz.de/10005774763
Employer-provided benefits are a large and growing share of compensation costs. In this paper, I consider three factors that can affect the value created by employer-sponsored benefits. First, firms have a comparative advantage (for example, due to scale economies or tax treatment) in purchasing...
Persistent link: https://www.econbiz.de/10005087439
workplace culture, turnover, and firm performance in a non-representative sample of companies: firms that applied to the "100 … the policies have a causal impact on employee well-being and firm performance. …
Persistent link: https://www.econbiz.de/10009397142
In this paper we describe the important features of executive compensation in the US from 1993 to 2006. Some confirm what has been found for earlier periods and some are novel. Important facts about compensation are that: the compensation distribution is highly skewed; each year, a sizeable...
Persistent link: https://www.econbiz.de/10008627158
We analyze the differences between companies owned by private equity (PE) investors and similar public companies. We document that PE-owned companies use much stronger incentives for their top executives and have substantially higher debt levels. However, we find little evidence that PE-owned...
Persistent link: https://www.econbiz.de/10005829305
an executive's wealth to firm performance was not inconsequentially small for most of our sample period. Thus, recent …
Persistent link: https://www.econbiz.de/10005829887
We consider how much of the top end of the income distribution can be attributed to four sectors -- top executives of non-financial firms (Main Street); financial service sector employees from investment banks, hedge funds, private equity funds, and mutual funds (Wall Street); corporate lawyers;...
Persistent link: https://www.econbiz.de/10005777758
distorted less when schools face a shorter horizon over which they can influence student performance. I then exploit grade span …
Persistent link: https://www.econbiz.de/10010744563
relationship between pay and firm performance since the 1930s. Our review suggests that both managerial power and competitive …
Persistent link: https://www.econbiz.de/10008756461
Managers appear to manipulate firm earnings when they characterize pension assets to capital markets and alter investment decisions to justify, and capitalize on, these manipulations. We construct a measure of the sensitivity of reported earnings to the assumed long-term rate of return on...
Persistent link: https://www.econbiz.de/10005718617