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THE ELEPHANT IN THE ROOM: LABOR MARKET INFLUENCES ON CEO COMPENSATION
16 references·15 citing·29 second hop
THE ELEPHANT IN THE ROOM: LABOR MARKET INFLUENCES ON CEO COMPENSATION (2009)THE ELEPHANT IN THE ROOM: LABOR MARKET IN…PREDICTORS OF OBJECTIVE AND SUBJECTIVE CAREER SUCCESS: A META‐ANALYSIS (2005)PREDICTORS OF OBJECTIVE AND S…Corporate governance, chief executive officer compensation, and firm performance (1999)Corporate governance, chief e…Handbook of industrial and organizational psychology (1993)Handbook of industrial and or…Performance Pay and Top-Management Incentives (1990)Performance Pay and Top-Manag…Handbook of Labor Economics (1989)Handbook of Labor EconomicsAgency Theory: An Assessment and Review (1989)Agency Theory: An Assessment …Corporate performance and managerial remuneration (1985)Corporate performance and man…Separation of Ownership and Control (1983)Separation of Ownership and C…Agency Problems and Residual Claims (1983)Agency Problems and Residual …Agency Problems and the Theory of the Firm (1980)Agency Problems and the Theor…Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Theory of the firm: Manageria…THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)THE VALUATION OF RISK ASSETS …Job Market Signaling (1973)Job Market SignalingThe Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets (1965)The Valuation of Risk Assets …CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)CAPITAL ASSET PRICES: A THEOR…Investment in Human Capital: A Theoretical Analysis (1962)Investment in Human Capital: …Upper Echelon Employment: A Review of the Fundamental Questions Related to the Executive Labor Market (2023)Upper Echelon Employment: A R…The Background on Executive Background: An Integrative Review (2022)The Background on Executive B…Compensation, Benefits, and Total Rewards: A Bird's-Eye (Re)View (2021)Compensation, Benefits, and T…The Participation Constraint and CEO Equity Grants (2020)The Participation Constraint …Implied Tradeoffs of Chief Financial Officer Accounting Expertise: Evidence from Firm-Manager Matching (2020)Implied Tradeoffs of Chief Fi…Facial Attractiveness and CEO Compensation: Evidence from the Banking Industry (2020)Facial Attractiveness and CEO…The two sides of CEO pay injustice (2018)The two sides of CEO pay inju…CEO excess compensation: The impact of firm size and managerial power (2016)CEO excess compensation: The …A fair go? The gender pay gap among corporate executives in Australian firms (2016)A fair go? The gender pay gap…Subnational institutional contingencies and executive pay dispersion (2015)Subnational institutional con…CEO Severance Agreements: A Theoretical Examination and Research Agenda (2015)CEO Severance Agreements: A T…The Determinants of Chief Executive Officer Compensation in Jordanian Industrial Corporations (2014)The Determinants of Chief Exe…Consequences of deviating from predicted CEO labor market compensation on long-term firm value (2014)Consequences of deviating fro…A multilevel approach to the effects of pay variation (2014)A multilevel approach to the …When high-powered incentive contracts reduce performance: choking under pressure as a screening device (2010)When high-powered incentive c…The Cost of Capital, Corporation Finance and the Theory of Investment (1958)Dividend Policy, Growth, and the Valuation of Shares (1961)On Persistence in Mutual Fund Performance (1997)The cost of capital, corporation finance and the theory of investment (2008)Prospect Theory: An Analysis of Decision under Risk (1979)Prospect theory: An analysis of decision under risk (1988)STRATEGY IN EMERGING ECONOMIES. 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this work references cited by second hop

References

  • 1976Theory of the firm: Managerial behavior, agency costs and ownership structure71,441 cited
  • 1983Separation of Ownership and Control19,446 cited
  • 1964CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK*19,431 cited
  • 1973Job Market Signaling16,329 cited
  • 1989Agency Theory: An Assessment and Review13,327 cited
  • 1980Agency Problems and the Theory of the Firm10,540 cited
  • 1962Investment in Human Capital: A Theoretical Analysis8,056 cited
  • 1965The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets7,600 cited
  • 1975THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.]

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6,743 cited
  • 1993Handbook of industrial and organizational psychology5,339 cited
  • 1990Performance Pay and Top-Management Incentives5,080 cited
  • 1983Agency Problems and Residual Claims4,877 cited
  • 1999Corporate governance, chief executive officer compensation, and firm performance4,334 cited
  • 1989Handbook of Labor Economics3,153 cited
  • 2005PREDICTORS OF OBJECTIVE AND SUBJECTIVE CAREER SUCCESS: A META‐ANALYSIS2,410 cited
  • 1985Corporate performance and managerial remuneration1,756 cited
  • Cited by

    • 2022The Background on Executive Background: An Integrative Review64 cited
    • 2021Compensation, Benefits, and Total Rewards: A Bird's-Eye (Re)View59 cited
    • 2016CEO excess compensation: The impact of firm size and managerial power45 cited
    • 2020The Participation Constraint and CEO Equity Grants44 cited
    • 2015Subnational institutional contingencies and executive pay dispersion41 cited
    • 2014A multilevel approach to the effects of pay variation39 cited
    • 2015CEO Severance Agreements: A Theoretical Examination and Research Agenda37 cited
    • 2020Implied Tradeoffs of Chief Financial Officer Accounting Expertise: Evidence from Firm-Manager Matching35 cited
    • 2020Facial Attractiveness and CEO Compensation: Evidence from the Banking Industry33 cited
    • 2018The two sides of CEO pay injustice30 cited
    • 2010When high-powered incentive contracts reduce performance: choking under pressure as a screening device27 cited
    • 2023Upper Echelon Employment: A Review of the Fundamental Questions Related to the Executive Labor Market26 cited
    • 2016A fair go? The gender pay gap among corporate executives in Australian firms25 cited
    • 2014The Determinants of Chief Executive Officer Compensation in Jordanian Industrial Corporations22 cited
    • 2014Consequences of deviating from predicted CEO labor market compensation on long-term firm value20 cited