The Resource Essays on CEO compensation, by Scott O'Brien

Essays on CEO compensation, by Scott O'Brien

Label
Essays on CEO compensation
Title
Essays on CEO compensation
Statement of responsibility
by Scott O'Brien
Title variation
Essays on chief executive officers compensation
Creator
Contributor
Author
Thesis advisor
Subject
Genre
Language
eng
Summary
The two essays of my dissertation examine issues concerning CEO compensation. First, I examine the use of relative performance evaluation (RPE), asymmetry in pay for skill/luck, and compensation benchmarking for a sample of firms involved in a spinoff. The spinoff affects firm characteristics that influence the use of these compensation practices. I find that RPE is used for post-spinoff CEOs, but not pre-spinoff CEOs. This result is consistent with RPE being more prevalent as performance benchmark firms are easier to identify. Post-spinoff CEOs are also paid asymmetrically for luck where they are rewarded for good luck but not punished for bad luck. Both pre- and post- spinoff CEOs receive similar levels of compensation benchmarking. Second, I study the role of reference points in CEO compensation. Using two samples, I identify multiple reference points and link the reference points to the behavioral phenomena of prospect theory and anchoring-and-adjusting. In a sample of CEOs who move from one company to another (mover sample), I estimate the CEOs' expected gain or loss in compensation as a result of the move, but do not find the effects of the expected gain or loss to be consistent with prospect theory preferences. Also in the mover sample, I find evidence of anchoring-and-adjusting where the compensation of the incoming CEO's predecessor (anchor) affects the compensation of the incoming CEO. Lastly, I find evidence that fiscal year high and low prices act as reference points where drops from the fiscal year high price to the fiscal year end price result in larger decreases in compensation than increases in compensation from the fiscal year low price to the fiscal year end price, consistent with prospect theory
Cataloging source
MUU
http://library.link/vocab/creatorName
O'Brien, Scott
Degree
Ph. D.
Dissertation note
Thesis
Dissertation year
2016.
Government publication
government publication of a state province territory dependency etc
Granting institution
University of Missouri--Columbia
Illustrations
illustrations
Index
no index present
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
  • theses
http://library.link/vocab/relatedWorkOrContributorName
Howe, John S.
http://library.link/vocab/subjectName
  • Chief executive officers
  • Wages
  • Incentives in industry
  • Merit pay
  • Performance
Label
Essays on CEO compensation, by Scott O'Brien
Instantiates
Publication
Copyright
Note
  • Dissertation supervisor: Dr. John Howe
  • Includes vita
Bibliography note
Includes bibliographical references (pages 75-83)
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Control code
991600096
Extent
1 online resource (vii, 84 pages)
Form of item
online
Media category
computer
Media MARC source
rdamedia
Media type code
c
Other physical details
illustrations
Specific material designation
remote
System control number
(OCoLC)991600096
Label
Essays on CEO compensation, by Scott O'Brien
Publication
Copyright
Note
  • Dissertation supervisor: Dr. John Howe
  • Includes vita
Bibliography note
Includes bibliographical references (pages 75-83)
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Control code
991600096
Extent
1 online resource (vii, 84 pages)
Form of item
online
Media category
computer
Media MARC source
rdamedia
Media type code
c
Other physical details
illustrations
Specific material designation
remote
System control number
(OCoLC)991600096

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