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CEO Pay-For-Performance Heterogeneity: Examples Using Quantile Regression

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dc.contributor.authorHallock, Kevin F.
dc.contributor.authorMadalozzo, Regina
dc.contributor.authorReck, Clayton G.
dc.date.accessioned2020-11-17T17:18:08Z
dc.date.available2020-11-17T17:18:08Z
dc.date.issued2008-07-29
dc.description.abstractWe provide some examples of how quantile regression can be used to investigate heterogeneity in pay–firm size and pay-performance relationships for U.S. CEOs. For example, do conditionally (predicted) high-wage managers have a stronger relationship between pay and performance than conditionally low-wage managers? Our results using data over a decade show, for some standard specifications, there is considerable heterogeneity in the returns to firm performance across the conditional distribution of wages. Quantile regression adds substantially to our understanding of the pay-performance relationship. This heterogeneity is masked when using more standard empirical techniques.
dc.description.legacydownloadsHallock12_CEO_Pay_for_Performance.pdf: 1837 downloads, before Oct. 1, 2020.
dc.identifier.other759334
dc.identifier.urihttps://hdl.handle.net/1813/75345
dc.language.isoen_US
dc.rightsRequired Publisher Statement: The final paper is forthcoming in Financial Review, published by Iowa State University.
dc.subjectexecutive compensation
dc.subjectquantile regression
dc.subjectpay and performance
dc.titleCEO Pay-For-Performance Heterogeneity: Examples Using Quantile Regression
dc.typearticle
local.authorAffiliationHallock, Kevin F.: kfh7@cornell.edu Cornell University
local.authorAffiliationMadalozzo, Regina: Ibmec Sao Paulo
local.authorAffiliationReck, Clayton G.: CRA International

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