Explaining Executive Pay The roles of managerial power and complexity
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Lukas Hengartner
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Explaining Executive Pay The roles of managerial power and complexity
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DUV Deutscher Universitäts-Verlag
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9783835093911
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1
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CHF 47.40
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Betriebswirtschaft
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English
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207
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Wasserzeichen/DRM
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PC/MAC/eReader/Tablet
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PDF
Lukas Hengartner shows that both firm complexity and managerial power are associated with higher pay levels. This suggests that top managers are paid for the complexity of their job and that more powerful top managers receive pay in excess of the level that would be optimal for shareholders.
Dr. Lukas Hengartner promovierte bei Prof. Dr. Winfried Ruigrok an der Universität St. Gallen. Er ist Assistent der Geschäftsleitung bei der ABB Schweiz AG.
Table of Contents
9
1 Introduction
21
2 The compensation setting process
29
3 Research review on executive pay
33
4 Research review on director pay
68
5 Are executives paid for the complexity of the job they have?
73
6 Can powerful managers extract rents?
86
7 Research methods
122
8 Research results
139
9 Discussion
179
I0 Conclusions
189
References
203
