|
|
|
|
||||
|
||||
Does Educational Background Affect CEO Compensation and Firm Performance?Terrance JalbertUniversity of Hawaii at Hilo - Department of Business Administration Kimberly FurumoUniversity of Hawaii at Hilo, CoBE; University of Hawaii at Hilo Mercedes JalbertThe Institute for Business and Finance Research 2010 The Journal of Applied Business Research, Vol. 27, No. 1, pp. 15-40, 2010 Abstract: This paper examines the educational background of Chief Executive Officers (CEOs) from large U.S. firms. Forbes CEO compensation lists and Compustat data covering 500 or more firms annually are utilized in the analysis for the period 1997-2006. Universities are ranked based on the number of graduates placed in top CEO positions and of the total compensation their graduates earn as CEO. Results show a select group of schools educate a large proportion of top CEOs. Harvard dominates the CEO market at all educational levels. Results show low correlation between university placement rankings and compensation rankings. Regressions on CEO compensation provide additional insights into CEO compensation determinants. Regressions of CEO educational variables on firm performance measures identify links between CEO education and firm performance. This is the first known paper to examine CEO gender as a determinant of compensation and firm performance. The evidence here provides hiring and compensation committees valuable information on appropriate hiring, retention and compensation strategies. It also provides government officials additional insights for designing appropriate regulations.
Number of Pages in PDF File: 24 Keywords: CEO Compensation, Firm Performance, University Rankings Accepted Paper SeriesDate posted: February 2, 2011 ; Last revised: February 24, 2011Suggested CitationContact Information
|
|
|||||||||||||||||||||||||||||||||
© 2013 Social Science Electronic Publishing, Inc. All Rights Reserved.
FAQ
Terms of Use
Privacy Policy
Copyright
This page was processed by apollo2 in 0.485 seconds
