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2014•Summit (Simon Fraser University)Open access

EXECUTIVE COMPENSATION DISPERSION AND FIRM PERFORMANCE

Jinzhi Li, Xinjie Peng

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Abstract

In this study, we examine the correlation between managerial pay dispersion and firm performance. We conduct a horse race between two different theories---tournament theory versus behavioral theory. We come to the conclusion that firm performance, measured by abnormal return, is positively associated wtih managerial compensation dispersion. The result is in consistent with the tournament theory.

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In this study, we examine the correlation between managerial pay dispersion and firm performance. We conduct a horse race between two different theories---tournament theory versus behavioral theory. We come to the conclusion that firm performance, measured by abnormal return, is positively associated wtih managerial compensation dispersion. The result is in consistent with the tournament theory.

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Available abstract

In this study, we examine the correlation between managerial pay dispersion and firm performance. We conduct a horse race between two different theories---tournament theory versus behavioral theory. We come to the conclusion that firm performance, measured by abnormal return, is positively associated wtih managerial compensation dispersion. The result is in consistent with the tournament theory.

Key concepts: Dispersion (optics), Executive compensation, Compensation (psychology), Business, Economics, Psychology, Social psychology, Physics

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