Trends in CEO Compensation and Equity Holdings for S&P 1,500 Firms: 1994-2007

作者: Yoshie Saito , Richard A. Lord

DOI:

关键词:

摘要: We analyze CEO pay and equity holdings for the S&P 1,500 broad industry classes. Between 1994 2000 real annual compensation doubled, there was a dramatic shift from salary to option grants. The value proportion of price-performance-sensitivity their portfolios also increased, but, managers held less shares more options. After crash dot.com bubble at turn-of-the-century fell briefly. But, it then began trend upward again through 2007. Since 2001 grants have declined notably, replaced largely by restricted stock In most recent years levels far below those in 1994.

参考文章(52)
Wayne R. Guay, John E. Core, David F. Larcker, Executive Equity Compensation and Incentives: A Survey Federal Reserve Bank of New York Economic policy review. ,vol. 9, pp. 27- 50 ,(2003)
Bengt Holmstrom, Moral Hazard and Observability The Bell Journal of Economics. ,vol. 10, pp. 74- 91 ,(1979) , 10.2307/3003320
Sherwin Rosen, Contracts and the Market for Executives Social Science Research Network. ,(1990)
Robert C. Merton, Theory of rational option pricing ,(2011)
Stephen M. Avila, Manoj Athavale, The Level and Structure of Executive Compensation within the Insurance Industry Journal of Insurance Issues. ,vol. 28, pp. 131- 150 ,(2005)
George P. Baker, Brian J. Hall, CEO Incentives and Firm Size Social Science Research Network. ,(1998) , 10.2139/SSRN.140632
Michael C. Jensen, Kevin J. Murphy, Eric G. Wruck, Remuneration: Where We've Been, How We Got to Here, What are the Problems, and How to Fix Them SSRN Electronic Journal. ,(2004) , 10.2139/SSRN.561305
Richard A. Lambert, David F. Larcker, Stock Options, Restricted Stock, and Incentives Social Science Research Network. ,(2004) , 10.2139/SSRN.527822
Kevin J. Murphy, Corporate performance and managerial remuneration: An empirical analysis Journal of Accounting and Economics. ,vol. 7, pp. 11- 42 ,(1985) , 10.1016/0165-4101(85)90026-6
Timothy B. Bell, Wayne R. Landsman, Bruce L. Miller, Shu Yeh, The Valuation Implications of Employee Stock Option Accounting for Computer Software Firms Social Science Research Network. ,(2001) , 10.2139/SSRN.227888