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| Author: | Leonard, J. S. |
| Title: | Executive pay and firm performance |
| Journal: | Industrial and Labor Relations Review
1990 : FEB, VOL. 43:3, p. 13-29 |
| Index terms: | PAY COMPANY PERFORMANCE EXECUTIVES PAY INCENTIVES USA PAY DIFFERENTIALS |
| Language: | eng |
| Abstract: | The effects of executive compensation policy and organizational structure on the performance of 439 large USA corporations between 1981 and 1985 are examined. Companies with long-term incentive plans enjoyed significantly greater increases in return on equity than did companies without such plans. Corporate success was not significantly related to the level of, or degree of equity in, executive pay, or to the steepness of pay differentials across executive ranks. It was, however, positively related to the extent of hierarchical structure, which appears to have been the primary mechanism for sorting individuals by human capital endowments and performance. |
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