Executive Compensation: Facts / Gian Luca Clementi, Thomas F. Cooley.

Format:

Book

Author/Creator:

Clementi, Gian Luca.

Contributor:

National Bureau of Economic Research.

Cooley, Thomas F.

Series:

Working Paper Series (National Bureau of Economic Research) no. w15426.

NBER working paper series no. w15426

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Other Title:

Executive Compensation

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2009.

Summary:

In this paper we describe the important features of executive compensation in the US from 1993 to 2006. Some confirm what has been found for earlier periods and some are novel. Important facts about compensation are that: the compensation distribution is highly skewed; each year, a sizeable fraction of chief executives lose money; the use of equity grants has increased; the income accruing to CEOs from the sale of stock has increased; regardless of the measure we adopt, compensation responds strongly to innovations in shareholder wealth; measured as dollar changes in compensation, incentives have strengthened over time, measured as percentage changes in wealth, they have not changed in any appreciable way.

Notes:

Print version record

October 2009.