Top Executive Pay: Tournament or Teamwork? Main, Brian G M; O'Reilly, Charles A, III; Wade, James

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Authors
Main, Brian G M ; O'Reilly, Charles A, III ; Wade, James
Appears In
Journal of Labor Economics
Subjects
Executives - Salaries, etc.; Pay equity -- Analysis; Incentives (Business) -- Analysis
Audience
Academic; Trade
Summary
Tournament mechanisms suggest the need for ever larger rewards to motivate those at the highest organizational levels. But arguments for the efficiency of executive pay compression have also been made. This study reports the results of an empirical investigation of executive compensation using over two-hundred firms and in excess of two thousand executives per year over a 5-year period. Results are consistent with the operation of tournaments but fail to find support for the empirical importance of considerations of pay equity at the top of corporations.
Bookmark
http://trove.nla.gov.au/work/184464
Work ID
184464

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