Munich Personal RePEc Archive

Are CEO's paid their marginal product? An empirical analysis of executive compensation and corporate performance.

Klinedinst, Mark (1991): Are CEO's paid their marginal product? An empirical analysis of executive compensation and corporate performance. Published in: Australian Bulletin of Labor , Vol. 17, No. No. 2 (June 1991): pp. 118-131.

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Abstract

The theory and reality of chief executive compensation is explored in this paper. The study here uses a panel of data on 143 executives from America’s largest corporations. The results suggest that earlier theoretical expectations and empirical findings of compressed wage scales may not hold when top-level managers are included.

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