Corporate governance, chief executive officer compensation, and firm performance 1 The financial sup

  title={Corporate governance, chief executive officer compensation, and firm performance 1 The financial sup},
  author={J. Core and R. Holthausen and David F. Larcker},
  journal={Journal of Financial Economics},
  • J. Core, R. Holthausen, David F. Larcker
  • Published 1999
  • Business, Economics
  • Journal of Financial Economics
  • Abstract We find that measures of board and ownership structure explain a significant amount of cross-sectional variation in CEO compensation, after controlling for standard economic determinants of pay. Moreover, the signs of the coefficients on the board and ownership structure variables suggest that CEOs earn greater compensation when governance structures are less effective. We also find that the predicted component of compensation arising from these characteristics of board and ownership… CONTINUE READING
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