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https://hdl.handle.net/2440/116597
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dc.contributor.author | Brockman, P. | - |
dc.contributor.author | Lee, H. | - |
dc.contributor.author | Salas, J. | - |
dc.date.issued | 2016 | - |
dc.identifier.citation | Journal of Corporate Finance, 2016; 39:53-77 | - |
dc.identifier.issn | 0929-1199 | - |
dc.identifier.issn | 1872-6313 | - |
dc.identifier.uri | http://hdl.handle.net/2440/116597 | - |
dc.description.abstract | We examine the distinct effects of generalist–specialist versus insider–outsider attributes on Chief Executive Officer (CEO) compensation patterns. Our cross-sectional results show that each attribute has a significant impact on both the level and structure of CEO compensation. CEOs with a high generalist–outsider combination receive the highest total compensation, followed by generalist–insiders, specialist–outsiders, and finally specialist–insiders. Our time-series results show that the generalist–specialist effect remains constant through time while the insider–outsider effect diminishes over time. These findings suggest that the generalist premium is the result of a fundamental shift in the need for generalist skills to manage increasingly-complex enterprises. In contrast, the outsider premium is more likely caused by a temporary increase in bargaining power during contract negotiations. Overall, our study disentangles generalist–specialist attributes from insider–outsider attributes and then identifies the specific channels through which each attribute affects executive compensation. | - |
dc.description.statementofresponsibility | Paul Brockman, Hye Seung (Grace) Lee, Jesus M.Salas | - |
dc.language.iso | en | - |
dc.publisher | Elsevier | - |
dc.rights | © 2016 Elsevier B.V. All rights reserved. | - |
dc.source.uri | http://dx.doi.org/10.1016/j.jcorpfin.2016.04.007 | - |
dc.subject | Executive compensation; CEO insiderness; generalist skills | - |
dc.title | Determinants of CEO compensation: generalist - specialist versus insider - outsider attributes | - |
dc.type | Journal article | - |
dc.identifier.doi | 10.1016/j.jcorpfin.2016.04.007 | - |
pubs.publication-status | Published | - |
Appears in Collections: | Aurora harvest 8 Economics publications |
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