Are Executives Earning It? How Product Market Competition Shapes Executives’ Pay

CEO pay

The pay of CEOs and other top executives has been the focus of academic and policy debates given its sharp increase in recent decades. A key question for many is whether executive pay is linked to the performance of the firms they manage. In a new paper, Ana P. Fernandes (University of Exeter), Priscila Ferreira (University of Minho), and L. Alan Winters (University of Sussex) explore how performance-related pay is affected by the level of competition in the markets that firms sell in.
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