CEO

Working Paper

The Real Cost of CEO Compensation: The Effect of Behindness Aversion of Employees

Do employees who compare themselves to the CEO matter for executive compensation? We hypothesize employees who are behindness averse and compare their wage to the CEO’s pay. Using German establishment-level wage data, we indeed show that employee...Read more

Ingolf Dittmann
Christoph Schneider
Yuhao Zhu
17 April 2018

What is the Shareholder Wealth Impact of Target CEO Retention in Private Equity Deals?

There is a widespread belief among observers that a lower premium is paid when the target CEO is retained by the acquirer in a private equity deal because the CEO’s potential conflicts of interest leads her to negotiate less aggressively on...Read more

Frederik P. Schlingemann
René Stulz
01 June 2017

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