Using data on US public firms, I uncover a strong and positive correlation between executive compensation and labor expenses. On average, a 1? % increase in the wage bill translates into a 0.3? % raise in total executive pay. This association is driven by wages rather than by employment growth, is stronger for the incentive than for the salary component of executive compensation, and is particularly pronounced in the financial sector.
Autori: | Colonnello, Stefano (Corresponding) |
Data di pubblicazione: | 2020 |
Titolo: | Executive Compensation and Labor Expenses |
Rivista: | THE B.E. JOURNAL OF ECONOMIC ANALYSIS & POLICY |
Digital Object Identifier (DOI): | http://dx.doi.org/10.1515/bejeap-2019-0258 |
Volume: | 20 |
Appare nelle tipologie: | 2.1 Articolo su rivista |
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