Deregulation and Board Policies: Evidence from Performance Measures Used in Bank CEO Turnover Decisions
Harvard Corporate Governance
SEPTEMBER 14, 2022
In contrast, most variation in CEO wealth stems from changes in the value of stock and option holdings, so the incentives arising from the CEO’s compensation are partly delegated to the equity markets (Hall and Liebman 1998; Edmans, Gabaix, and Jenter 2017).
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