haku: @journal_id 80 / yhteensä: 385
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| Tekijä: | Fosberg, R. James, J. |
| Otsikko: | Bond rating changes and CEO compensation |
| Lehti: | Managerial Finance
1995 : VOL. 21:2, p. 12-23 |
| Asiasana: | COMPENSATION CHIEF EXECUTIVE OFFICERS BOND RATINGS CHANGE |
| Kieli: | eng |
| Tiivistelmä: | Jensen and Murph (1990) and others have found a small but statistically significant relationship between firm performance and executive compensation. In this study the authors investigate the pay-performance relationship further by considering the relationship between an outside measure of firm performance and the contemporaneous change in the compensation of the firm's CEO. The authors find that when a firm's bond rating is downgraded, CEO total compensation declines by a relatively small amount. |
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