Corpus ID: 54822840

The Value of a Rolodex: CEO Pay and Personal Network

@article{Gao2009TheVO,
  title={The Value of a Rolodex: CEO Pay and Personal Network},
  author={P. Gao and E. Joey and P. Chris},
  journal={Review of Financial Studies},
  year={2009}
}
  • P. Gao, E. Joey, P. Chris
  • Published 2009
  • Economics
  • Review of Financial Studies
  • Whom a CEO knows has a substantial impact on pay. An additional connection to an executive or director outside the firm increases a CEO‟s compensation by over $17,000 on average, and explains about 10% of total pay. An additional premium is associated with “important” members: insiders at other firms, geographically local connections, or those within the same industry. Needy firms – those whose non-CEO executives are poorly connected and those geographically isolated from industry peers pay the… CONTINUE READING
    39 Citations

    Figures and Tables from this paper

    Essays on Mergers and Acquisitions and Governance
    • Highly Influenced
    • PDF
    Executive Compensation , Fat Cats , and Best Athletes 1
    • Highly Influenced
    • PDF
    The Impact of Social Connections on Merger Performance
    • PDF
    CEO-Director Connections and Corporate Fraud
    • 67
    • PDF

    References

    SHOWING 1-10 OF 49 REFERENCES
    Why Has CEO Pay Increased so Much?
    • 1,714
    • PDF
    Are CEOs Rewarded for Luck? The Ones Without Principals Are
    • 1,435
    • PDF
    It Pays to Have Friends
    • 588
    • PDF
    'But, Mom, All the Other Kids Have One!' - CEO Compensation and Director Networks
    • 41
    • Highly Influential
    Managing with Style: The Effect of Managers on Firm Policies
    • 2,484
    • PDF
    Remuneration, Retention, and Reputation Incentives for Outside Directors
    • 651
    • PDF
    Agents with and Without Principals
    • 188
    • PDF
    Board Seat Accumulation by Executives: A Shareholder's Perspective
    • 266