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Performance Pay and Top-Management Incentives

Our estimates of the pay-performance relation (including pay, options, stockholdings, and dismissal) for chief executive officers indicate that CEO wealth changes $3.25 for every $1,000 change in shareholder wealth. Although the incentives generated by stock ownership are large relative to pay... Full description

1st Person: Jensen, Michael C.
Additional Persons: Murphy, Kevin J. verfasserin
Source: in Journal of political economy Vol. 98, No. 2 (1990), p. 225-264
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Type of Publication: Article
Language: English
Published: 1990
Keywords: research-article
Online: Volltext
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