search query: @author Lippert, R. L. / total: 1
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| Author: | Lippert, R. L. Porter, G. |
| Title: | Understanding CEO Pay: A Test of Two Pay-to-Performance Sensitivity Measures with Alternative Measures of Alignment and Influence |
| Journal: | Journal of Business Research
1997 : OCT, Vol. 40:2, p. 127-138 |
| Index terms: | MANAGEMENT PAY CHIEF EXECUTIVE OFFICERS COMPENSATION |
| Language: | eng |
| Abstract: | This study contributes to the agency and corporate governance literature by: (1) demonstrating that CEO tenure can have a positive relationship to pay-performance sensitivity; (2) providing empirical evidence wich illustrates the importance of the choice of compensation measure; and (3) examining alternative measures of influence, as well as alignment of interests, to further explore the competing interpretations of a tenure effect. Our amalysis of two data sets emphasizes that the use of total pay - stock and options, as well as salary and bonus - is essential when testing alignment hypotheses with current data, due to the growing trend toward high non-cash rewards in CEO compensation. |
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