In this paper, we investigate the effect of higher personal income taxes on CEO and firm performance in publicly traded US firms. In response to higher taxes on compensation, CEOs are less likely to reach performance goals and spend more time working in boards outside of their firm. At the same...

This paper uses the Brexit referendum in 2016 as a quasi-natural experiment to estimate the effect of an exogenous negative shock to globalization on executive compensation for German companies listed in the DAX and MDAX stock indices. We show that it matters whether they work for firms...

This paper contributes to the ongoing discourse on the taxation of top-income earners by empirically investigating the impact of tax policy changes on pay without performance. Using data on executive compensation in the United States, I compare the sensitivity of executive compensation to...

This study explores the relationship between the daily habits of S&P 500 CEOs and their financial remuneration. Using a mixed-method approach, the research analyzes time allocation across work, sleep, and exercise among 22 CEOs from leading publicly listed U.S. corporations. Regression analysis...

This paper examines the integration of ESG performance metrics into executive compensation using a detailed panel dataset of European executives. Despite becoming more widespread, most ESG metrics are largely discretionary, carry immaterial weights in payout calculations, and contribute little...

We empirically test whether executives' increases in base salary when promoted to CEO result from the wage bids of competing firms (i.e., "market-based tournaments") or from the strategic choices of the firm's board of directors to elicit optimal executive incentives (i.e., "classic...

Research Question/Issue: Do large, within-firm executive pay differences hurt firm performance? Prior literature shows mixed results concerning the sign of the relationship between executive pay disparity and firm performance. This study evaluates that literature, clarifies what tournament...

This study investigates the impact of excluding stock options for non-executive directors (NEDs) on the relationship between executive pay and firm performance. The research focuses on accounting measures and market performance. Using a sample of 220 non-financial firms, including 110 listed...

Purpose - We investigate the relationship between family firms and Chief Executive Officer (CEO) turnover and the moderating role of corporate transparency in this association, using firms listed on the Taiwan Stock Exchange (TSE). Design/methodology/approach - Using a sample of 15,726 firm-year...

In the context of differentiated governance and the deepening market-oriented reform of compensation in China, we divide state-owned enterprises (SOEs) into four categories according to their equity structure, namely absolute holding firms, relative holding firms, major impact firms and equity...

This paper uses the Brexit referendum in 2016 as a quasi-natural experiment to estimate the effect of an exogenous negative shock to globalization on executive compensation for German companies listed in the DAX and MDAX stock indices. We show that it matters whether they work for firms...

In this paper, we investigate the effect of higher personal income taxes on CEO and firm performance in publicly traded US firms. In response to higher taxes on compensation, CEOs are less likely to reach performance goals and spend more time working in boards outside of their firm. At the same...

This paper contributes to the ongoing discourse on the taxation of top-income earners by empirically investigating the impact of tax policy changes on pay without performance. Using data on executive compensation in the United States, I compare the sensitivity of executive compensation to...

We examine the relationship between returnee chief executive officers (CEOs) and audit fees in China using robust econometric modeling with 25,630 firm-year observations between 2008 and 2020. A returnee CEO is a Chinese CEO who has previously worked or studied outside mainland China. Consistent...

This study investigates the effect of government pay policy for chief executive officer's (CEO's) compensation on corporate innovation (CI). Furthermore, it explores the role of the CEO's career horizon and shareholding in this nexus. Utilizing the difference-in-differences method to analyze...

Institutional common ownership of firm pairs in the same industry increases the likelihood of a preexisting social connection among their CEOs. We establish this relationship using a quasi-natural experiment that exploits institutional mergers combined with firms’ hiring events and detailed...