TITLE

CEO Pay and the Market for CEOs

AUTHOR(S)
Falato, Antonio; Milbourn, Todd; Li, Dan
PUB. DATE
July 2012
SOURCE
Working Papers -- U.S. Federal Reserve Board's Finance & Economi;2012, p1
SOURCE TYPE
Working Paper
DOC. TYPE
Article
ABSTRACT
The article focuses on the role of the productive abilities and talent of chief executive officers (CEO) in determining the salaries of CEOs in the CEO labor market. It is stated that if observed credentials provide valuable signals of the productive abilities of CEOs, then pay packages should reward credentials. There are three such measures of credentials based on CEO's resume: reputation in the industry, labor market status, and education.
ACCESSION #
79648096

 

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