Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments May 29, 2021 erstellt
Beschreibung:
Eighty-nine percent of S&P500 companies report benchmarking CEO pay components. Analyzing a panel of CEO compensation data entailing 1,251 S&P 1500 firms during 2007-2013, we find that: 1) total compensation benchmarking less effectively explains CEO compensation than does component-of-pay benchmarking; 2) the strength of compensation components’ adjustment to their benchmarks appears similar across the various components; the only exception is the salary that adjusts less pronouncedly to its benchmark, and 3) benchmarking is used not only regarding the level of compensation components but also regarding the weight of each component in total compensation. We discuss possible motivations for pay component benchmarking