| Authors |
Engelberg, Gao, Parsons |
| Journal |
Review of Financial Studies |
| Year |
2013 |
| Type |
Published Paper |
| Abstract |
CEOs with large networks earn more than those with small networks. An additional
connection to an executive or director outside the firm increases compensation by about $17,000 on average, more so for "important" members, such as CEOs of big firms. Pay-for-connectivity is unrelated to several measures of corporate governance, evidence in favor of an efficient contracting explanation for CEO pay. |
| Keywords |
CEO compensation, social networks, information value, corporate governance |
| URL |
https://doi.org/10.1093/rfs/hhs114 |
| Tags |
Archival Empirical |
Manager / Firm Behavior |
Social Network Structure |
Theory
|