What is it about?
This paper proposes an alternate explanation of the rapid growth in CEO pay-the rising rate of CEO dismissals.
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Why is it important?
This is only the second paper on this topic, and it proposes that the risk of being fired has partially contributed to the rapid growth in CEO pay. This can be seen as an unintended consequence of the governance regulations.
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This page is a summary of: Was Adam Smith Right? Evidence of Compensating Differential in CEO Pay, Manchester School, September 2014, Wiley,
DOI: 10.1111/manc.12086.
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