An edition of Why has CEO pay increased so much? (2006)

Why has CEO pay increased so much?

Why has CEO pay increased so much?
Xavier Gabaix, Xavier Gabaix
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Last edited by Open Library Bot
December 3, 2010 | History
An edition of Why has CEO pay increased so much? (2006)

Why has CEO pay increased so much?

"This paper develops a simple equilibrium model of CEO pay. CEOs have different talents and are matched to firms in a competitive assignment model. In market equilibrium, a CEO's pay changes one for one with aggregate firm size, while changing much less with the size of his own firm. The model determines the level of CEO pay across firms and over time, offering a benchmark for calibratable corporate finance. The sixfold increase of CEO pay between 1980 and 2003 can be fully attributed to the six-fold increase in market capitalization of large US companies during that period. We find a very small dispersion in CEO talent, which nonetheless justifies large pay differences. The data broadly support the model. The size of large firms explains many of the patterns in CEO pay, across firms, over time, and between countries"--National Bureau of Economic Research web site.

Publish Date
Language
English

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Edition Availability
Cover of: Why has CEO pay increased so much?
Why has CEO pay increased so much?
2006, National Bureau of Economic Research
in English
Cover of: Why has CEO pay increased so much?
Why has CEO pay increased so much?
2006, National Bureau of Economic Research
electronic resource / in English

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Book Details


Edition Notes

Title from PDF file as viewed on 7/26/2006.

Includes bibliographical references.

Also available in print.

System requirements: Adobe Acrobat Reader.

Mode of access: World Wide Web.

Published in
Cambridge, MA
Series
NBER working paper series -- working paper 12365, Working paper series (National Bureau of Economic Research : Online) -- working paper no. 12365.

Classifications

Library of Congress
HB1

The Physical Object

Format
[electronic resource] /

ID Numbers

Open Library
OL31759532M
LCCN
2006619119

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December 3, 2010 Edited by Open Library Bot Added subjects from MARC records.
December 10, 2009 Created by WorkBot add works page