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File name: SSRN-id1709065. ; Size: 278K
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Premium Pay for Executive Talent: An Empirical Analysis
Mary Ellen Carter
Boston College - Department of Accounting
Francesca Franco
London Business School
A. Irem Tuna
London Business School
Nov 12, 2010
AAA 2011 Management Accounting Section (MAS) Meeting Paper
Abstract:
We examine the extent to which executive talent at the time of the hire affects the design of the executive’s compensation contract at the hiring firm. Using a sample of executives who switched jobs at least once between 1992 and 2007, we find that our proxies for executive talent are positively associated with compensation premiums at the new employer, after controlling for the standard determinants of pay. Moreover, tests for the association between pay for executive talent and performance at the hiring firm indicate that it does not always pay off to pay a premium to attract and retain talented executives, and that this association varies with the type of talent (i.e., “perceived” versus “objective”) the hiring firm rewards.
Number of Pages in PDF File: 48
Keywords: Executive Talent, Compensation, Incentives
JEL Classification: J33
working papers series
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Date posted: August 14, 2010
; Last revised: November 16, 2010
Suggested CitationCarter, Mary Ellen, Franco, Francesca and Tuna, A. Irem, Premium Pay for Executive Talent: An Empirical Analysis (Nov 12, 2010). AAA 2011 Management Accounting Section (MAS) Meeting Paper. Available at SSRN: http://ssrn.com/abstract=1658903 or http://dx.doi.org/10.2139/ssrn.1658903
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