CEO Pay and Firm Performance in Japan
Posted: 22 Aug 1998
This paper examines the compensation of CEOs of large, publicly held Japanese firms. Our findings suggest that CEO pay in Japan is determined by a complex mix of organizational, individual, and economic factors. Specifically, our findings indicate that CEO pay is driven strongly by a CEO's tenure in a firm, as well as by a firm's size and capital structure. It is driven to a lesser extent by a firm's profitability and concentration of ownership and by a CEO's credentials.
JEL Classification: J33
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