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| Author: | Belliveau, M. A. O'Reilly III, C. A. Wade, J. A. |
| Title: | Social capital at the top: Effects of social similarity and status on CEO compensation |
| Journal: | Academy of Management Journal
1996 : DEC, VOL. 39:6, p. 1568-1593 |
| Index terms: | SOCIAL ECONOMICS CAPITAL WAGE DETERMINATION SOCIAL CHOICE PAY |
| Language: | eng |
| Abstract: | This paper investigates the effects of social capital (both absolutely and relatively measured) on CEO compensation in a sample of 61 CEO-compensation committee chairperson dyads. Variables representing economic, social comparison , and other social influence explanations for CEO compensation were controlled for. A chair's absolute social capital and a CEO's social relative to his or her chair's increased CEO compensation. Status is likely to have greater effect on CEO compensation than social similarity. The findings of this research demonstrate the importance of social capital as a factor in CEO wage setting. To understand better, how executive compensation is determined the models need to be better grounded in psychological theory and more accurately reflect how boards operate. |
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