This paper reviews the theoretical and empirical literature on executive compensation. We
start by presenting data on the level of CEO and other top executive pay over time and …

We analyze the role of institutional cross-ownership in internalizing corporate governance
externalities using granular mutual fund proxy voting data. Exploiting within-proposal and …

This paper uses the generalized VAR framework to study the asymmetric spillover between
geopolitical risk and oil price volatility for six major regions in the world. Based on the …

This article studies traditional and modern theories of executive compensation, bringing
them together under a simple unifying framework accessible to the general-interest reader …

We find that firms are more likely to split their stock if their peer firms have recently done so.
The effect is comparable to an increase of 40–50% in the share price. Splitting probability is …

The usage of performance-vesting (pv) equity awards to top executives in large US
companies has grown from 20 to 70 percent from 1998 to 2012. We measure the effects of …

We empirically assess industry tournament incentives for CEOs, as measured by the
compensation gap between a CEO at one firm and the highest-paid CEO among similar …

The debate over the extent and causes of rising inequality of American incomes and wages
has now raged for at least two decades. In this paper, we will make four arguments. First, the …

This study examines the explicit use of relative performance evaluation (RPE) in executive
compensation contracts and the selection of RPE peers. Using S&P 1500 firms' first proxy …

Current research shows that firms are more likely to benchmark against peers that pay their
Chief Executive Officers (CEOs) higher compensation, reflecting self serving behavior. We …