✦ LIBER ✦

Tournament Structure of Managerial Pay: Evidence from the Transition Period

✍ Scribed by Teodora Paligorova

Publisher: John Wiley and Sons
Year: 2011
Tongue: English
Weight: 397 KB
Volume: 32
Category: Article
ISSN: 0143-6570
DOI: 10.1002/mde.1543

No coin nor oath required. For personal study only.

✦ Synopsis

This paper uses matched employer-employee data to study the structure of managerial compensation. The evidence supports key predictions from tournament theory. First, the managerial pay differential between organizational levels is non-decreasing as one goes up the corporate ladder. This result is robust to controlling for human capital characteristics and firm fixed effects. I document a particularly large increment in the pay differential at the top of a firm's hierarchy. Second, the winner's prize in the CEO tournament increases with the number of competitors for the CEO position. Last, high wage dispersion is associated with high firm performance.

📜 SIMILAR VOLUMES

Has the transition to agriculture reshap

Has the transition to agriculture reshaped the demographic structure of prehistoric populations? New evidence from the Levant

✍ Vered Eshed; Avi Gopher; Timothy B. Gage; Israel Hershkovitz 📂 Article 📅 2004 🏛 John Wiley and Sons 🌐 English ⚖ 221 KB 👁 1 views

## Abstract This paper presents the demographic changes that followed the transition from a hunting‐gathering way of life (Natufian) to an agricultural, food‐producing economy (Neolithic) in the southern Levant. The study is based on 217 Natufian (10,500–8,300 BC) skeletons and 262 Neolithic (8,300