Article1998

MARKET COMPARISON EARNINGS AND THE BIDDING-UP OF EXECUTIVE CASH COMPENSATION: EVIDENCE FROM THE UNITED KINGDOM.

151 citations0/0 files storedAcademy of Management Journal

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Corporate Finance and Governance Labor market dynamics and wage inequality Human Resource and Talent Management

Abstract

We argue that compensation committees will pay executives at least at the going rate and that deviations from that rate will influence subsequent pay. In a sample of large U.K. companies, we estima...

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References

1974Judgment under Uncertainty: Heuristics and Biases 1954A Theory of Social Comparison Processes 1980Agency Problems and the Theory of the Firm 1990Performance Pay and Top-Management Incentives 1988Compensation and Incentives: Practice vs. Theory 1988CEO Compensation as Tournament and Social Comparison: A Tale of Two Theories 1988DIRECTORS' CHARACTERISTICS AND COMMITTEE MEMBERSHIP: AN INVESTIGATION OF TYPE, OCCUPATION, TENURE, AND GENDER.1987MANAGERIAL CONTROL, PERFORMANCE, AND EXECUTIVE COMPENSATION.

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