Firm Diversification And Ceo Compensation Managerial Ability Or Executive Entrennchment
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Firm Diversification And Ceo Compensation
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Author : Nancy L. Rose
language : en
Publisher:
Release Date : 1994
Firm Diversification And Ceo Compensation written by Nancy L. Rose and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Chief executive officers categories.
Data for a sample of 558 CEOs over 1985-1990 suggest substantial compensation premia for managers of diversified firms. The CEO of a firm with two distinct lines of business averages 10 to 12 percent more in salary and bonus and 13 to 17 percent more in total compensation than the CEO of a similar-sized but undiversified firm, all else equal. This corresponds to average 1990 salary gains of $115,000 to $145,000 per year for our sample. Diversification may raise pay because the CEO's job requires higher ability or because it is associated with CEO entrenchment. If ability explains the correlation, we would expect the diversification premium to be invariant to tenure. Entrenchment models suggest higher premia for more experienced (more entrenched) CEOs, and an increase in compensation when the CEO diversifies the firm. The data support an ability model over an entrenchment explanation. The diversification premium is unaffected by tenure, and increasing diversification reduces compensation for incumbent CEOs, all else equal.
Firms Diversification And Ceo Compensation
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Author : Nancy L. Rose
language : en
Publisher:
Release Date : 1998
Firms Diversification And Ceo Compensation written by Nancy L. Rose and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with categories.
Data for a sample of 558 CEOs over 1985-1990 suggest substantial compensation premia for managers of diversified firms. The CEO of a firm with two distinct lines of business averages 10 to 12 percent more in salary and bonus and 13 to 17 percent more in total compensation than the CEO of a similar-sized but undiversified firm, all else equal. This corresponds to average 1990 salary gains of $115,000 to $145,000 per year for our sample. Diversification may raise pay because the CEO's job requires higher ability or because it is associated with CEO entrenchment. If ability explains the correlation, we would expect the diversification premium to be invariant to tenure. Entrenchment models suggest higher premia for more experienced (more entrenched) CEOs, and an increase in compensation when the CEO diversifies the firm. The data support an ability model over an entrenchment explanation. The diversification premium is unaffected by tenure, and increasing diversification reduces compensation for incumbent CEOs, all else equal.
Firm Diversification And Ceo Compensation
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Author : Nancy L. Rose
language : en
Publisher:
Release Date : 2000
Firm Diversification And Ceo Compensation written by Nancy L. Rose and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with categories.
Data for a sample of 558 CEOs over 1985-1990 suggest substantial compensation premia for managers of diversified firms. The CEO of a firm with two distinct lines of business averages 10 to 12 percent more in salary and bonus and 13 to 17 percent more in total compensation than the CEO of a similar-sized but undiversified firm, all else equal. This corresponds to average 1990 salary gains of $115,000 to $145,000 per year for our sample. Diversification may raise pay because the CEO's job requires higher ability or because it is associated with CEO entrenchment. If ability explains the correlation, we would expect the diversification premium to be invariant to tenure. Entrenchment models suggest higher premia for more experienced (more entrenched) CEOs, and an increase in compensation when the CEO diversifies the firm. The data support an ability model over an entrenchment explanation. The diversification premium is unaffected by tenure, and increasing diversification reduces compensation for incumbent CEOs, all else equal.
Firm Diversification And Ceo Compensation
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Author : Nancy L. Rose
language : en
Publisher: Forgotten Books
Release Date : 2017-06-16
Firm Diversification And Ceo Compensation written by Nancy L. Rose and has been published by Forgotten Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-06-16 with Business & Economics categories.
Excerpt from Firm Diversification and Ceo Compensation: Managerial Ability or Executive Entrenchment? Proponents of managerial entrenchment explanations argue that diversification frequently is undertaken by self-serving managers to increase the value of their compensation packages, even when diversification reduces the value of the firm. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Firm Diversification And Ceo Compensation Managerial Ability Or Executive Entrennchment
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Author : Nancy L. Rose
language : en
Publisher:
Release Date : 1994
Firm Diversification And Ceo Compensation Managerial Ability Or Executive Entrennchment written by Nancy L. Rose and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with categories.
Firm Diversification And Ceo Compensation
DOWNLOAD
Author : Nancy L. Rose
language : en
Publisher:
Release Date : 1994
Firm Diversification And Ceo Compensation written by Nancy L. Rose and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with categories.
Mergers Acquisitions And Corporate Restructurings
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Author : Patrick A. Gaughan
language : en
Publisher: John Wiley & Sons
Release Date : 2015-03-30
Mergers Acquisitions And Corporate Restructurings written by Patrick A. Gaughan and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-03-30 with Business & Economics categories.
Corporate restructurings are an indispensable tool in building a new generation of re-engineered companies with the power and resources to compete on a global playing field. Written from a practical and historical perspective, Mergers, Acquisitions, and Corporate Restructurings, Fourth Edition carefully analyzes the strategies and motives that inspire M&As, the laws and rules that govern the field, as well as the offensive and defensive techniques of hostile acquisitions.
Mergers And Acquisitions And Executive Compensation
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Author : Virginia Bodolica
language : en
Publisher: Routledge
Release Date : 2015-06-26
Mergers And Acquisitions And Executive Compensation written by Virginia Bodolica and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-06-26 with Business & Economics categories.
Over the past decades, the total value of executive compensation packages has been rising dramatically, contributing to a wider pay gap between the chief executive officer and the average worker. In the midst of the financial turmoil that brought about a massive wave of corporate failures, the lavish executive compensation package has come under an intense spotlight. Public pressure has mounted to revise the levels and the structure of executive pay in a way that will tie more closely the executive wealth to that of shareholders. Merger and acquisition (M&A) activities represent an opportune setting for gauging whether shareholder value creation or managerial opportunism guides executive compensation. M&As constitute major examples of high-profile events prompted by managers who typically conceive them as a means for achieving higher levels of pay, even though they are frequently associated with disappointing returns to acquiring shareholders. Mergers and Acquisitions and Executive Compensation reviews the existing empirical evidence and provides an integrative framework for the growing body of literature that is situated at the intersection of two highly debated topics: M&A activities and executive compensation. The proposed framework structures the literature along two dimensions, such as M&A phases and firm’s role in a M&A deal, allowing readers to identify three main streams of research and five different conceptualizations of causal relationships between M&A transactions and executive compensation. The book makes a comprehensive review of empirical studies conducted to date, aiming to shed more light on the current and emerging knowledge in this field of investigation, discuss the inconsistencies encountered within each stream of research, and suggest promising directions for further exploration. This book will appeal to researchers and students alike in the fields of organizational behavior and governance as well as accounting and accountability.
Explaining Executive Pay
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Author : Lukas Hengartner
language : en
Publisher: Springer Science & Business Media
Release Date : 2007-12-31
Explaining Executive Pay written by Lukas Hengartner and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-12-31 with Business & Economics categories.
Lukas Hengartner shows that both firm complexity and managerial power are associated with higher pay levels. This suggests that top managers are paid for the complexity of their job and that more powerful top managers receive pay in excess of the level that would be optimal for shareholders.
The Political Economy Of Chinese Finance
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Author : J. Jay Choi
language : en
Publisher: Emerald Group Publishing
Release Date : 2016-09-02
The Political Economy Of Chinese Finance written by J. Jay Choi and has been published by Emerald Group Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-09-02 with Business & Economics categories.
Volume 17 of International Finance Review focusses on a variety of issues relating to the political economy of Chinese finance.