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Pay for Performance Initiatives: External Information Sources/Links

CalPERS would like to provide a resource to interested parties relevant to executive compensation issues. The following should provide the user helpful links to pertinent sources and articles. However, CalPERS does not endorse or recommend any of these sources or articles.

Subject Search on Executive Compensation


Executive-Compensation - General
Industry-Specific Studies
Incentive Effects
Ownership Structure and Executive Compensation
Pay-Performance Sensitivity
Role/Effect of Board of Directors
Stock Options
Surveys

Executive Compensation - General

  1. Fair or Excessive? - A Reliable Model for Determining the Appropriateness of Executive Compensation (PDF, 112 KB)
    - Mark Anson, R. Theodore White, William McGrew, and Bridgette Butler
  1. Findings and Recommendations on Executive Compensation Public Trust and Private Enterprise Corporate Governance Publications - Research Report (PDF, 256KB)
    - Conference Board
  1. Executive Compensation and Corporate Fraud
    Shane A.Johnson , Harley E.Ryan Jr. and Yisong SamTian
    Louisiana State University - E.J. Ourso College of Business Administration , Louisiana State University - E.J. Ourso College of Business Administration and York University - Schulich School of Business
    - The Social Science Research Network
  1. Executive Compensation and Executive Contributions to Corporate PACs
    Advances in Financial Economics, Vol. 6, 2001
    Kathleen A.Farrell , Philip L. Hersch and Jeffry M.Netter
    University of Nebraska-Lincoln , Wichita State University - Department of Economics and University of Georgia - Department of Banking and Finance
    - The Social Science Research Network
  1. Federal Tax Legislation as an Implicit Contracting Cost Benchmark: The Definition of Excessive Executive Compensation
    Accounting Review, October 2002
    David G.Harris and Jane R.Livingstone
    Syracuse University - School of Management and Louisiana State University - Department of Accounting
    - The Social Science Research Network
  1. Strategic Change, Multi-Task Managers and Executive Compensation
    Schmalenbach Business Review, Vol. 53, April 2001
    Joachim Schwalbach
    Humboldt Universität zu Berlin - Institute of Management

Industry-Specific Studies

  1. Executive Compensation and Non-financial Performance Measures: A Study of the Incentive and Value Relevance of Mandated Non-financial Disclosures in the U.S. Airlines Industry
    Dhinu Srinivasan , Akin Sayrak and Nandu Nagarajan
    University of Pittsburgh - Katz School of Business
    - The Social Science Research Network
  1. Geographic and Industrial Corporate Diversification: The Level and Structure of Executive Compensation
    Journal of Accounting, Auditing & Finance, Vol. 17, No. 1, Winter 2002
    Augustine Duru and David M.Reeb
    American University - Kogod School of Business Administration and University of Alabama - Culverhouse College of Business
    - The Social Science Research Network

Incentive Effects

  1. An Examination of Economic Value Added and Executive Compensation
    John P.Evans and Robert T.Evans Curtin University of Technology - Department of Economics and Finance and Curtin University of Technology - Graduate School of Business
    - Social Science Research Network.
  1. Executive Compensation and Short-termist Behavior in Speculative Markets
    by Patrick Bolton, Jose Scheinkman, Weig Xiong NBER working Paper No. w9722
    - The National Bureau of Research
  1. Stakeholder Pressure and the Structure of Executive Compensation
    by Marilyn F. Johnson, University of Michigan Business School; Susan Porter, University of Massachusetts; Margaret B. Shackell, University of Notre Dame
    - The Social Science Research Network

Ownership Structure and Executive Compensation

  1. Executive Compensation and Managerial Risk-Taking
    Jeffrey L.Coles , Naveen D.Daniel and Lalitha Naveen
    Arizona State University , Georgia State University - Department of Finance and Georgia State University - Department of Finance
    - The Social Science Research Network
  1. Executive Compensation and Short-termist Behavior in Speculative Markets
    Patrick Bolton , Jose A.Scheinkman and Wei Xiong
    Princeton University - Department of Economics
    - The Social Science Research Network
  1. Executive Compensation as an Agency Problem
    Lucian Arye Bebchuk and Jesse M.Fried
    Harvard Law School and University of California, Berkeley - School of Law
    - The Social Science Research Network
  1. Executive Compensation in America: Optimal Contracting or Extraction of Rents?
    Lucian Arye Bebchuk , Jesse M.Fried and David I. Walker
    Harvard Law School , University of California, Berkeley - School of Law (Boalt Hall) and Boston University School of Law
    - The Social Science Research Network

Pay-Performance Sensitivity

  1. Agency Theory and Executive Compensation: The Case of Chinese State-Owned Enterprises
    Taye Mengistae and Lixin ColinXu , World Bank - Development Research Group and
    World Bank - Development Research Group
    -Social Science Research Network
  1. Regulating Executive Pay: Using the Tax Code to Influence CEO Compensation
    by Nancy L Rose and Catherine Wolfram
    -National Bureau of Economic Research
  1. Performance Incentives Within Firms: The Effect of Managerial Responsibility
    by Rajesh K. Aggarwal and Andrew A Samwick
    - National Bureau of Economic Research
  1. The Other Side of the Tradeoff: The Impact of Risk on Executive Compensation
    by Rajesh Aggarwal and Andrew A. Samwick
    - National Bureau of Economic Research

Role/Effect of Board of Directors

  1. CEO Influence and Executive Compensation by Uma V. Srhidharan, Clemson University
    - Department of Finance.
    - The Social Science Research Network
  1. Corporate Governance, CEO Compensation, and Firm Performance
    John E.Core , Robert W.Holthausen and David F.Larcker
    University of Pennsylvania - Accounting Department , University of Pennsylvania - Accounting Department and University of Pennsylvania - Accounting Department
    - The Social Science Research Network
  1. Executive Compensation Structure and Corporate Governance Choices
    Journal of Financial Research
    Keith D.Harvey and Ronald E.Shrieves
    University of Boise - General and University of Tennessee, Knoxville - Department of Finance
    - The Social Science Research Network
  1. Reciprocally Interlocking Boards of Directors and Executive Compensation
    J. OF FINANCIAL AND QUANTITATIVE ANALYSIS, September 1997
    Kevin F.Hallock
    University of Illinois at Urbana-Champaign
    - The Social Science Research Network

Stock Options

  1. Why do Corporate Managers Misstate Financial Statements? The Role of Option Compensation, Corporate Governance, and other Factors.
    JAP EFENDI, Texas A&M University; ANUP SRIVASTAVA, Texas A&M University; EDWARD P. SWANSON, Texas A&M University - Department of Accounting
  1. Earnings Management and Executive Compensation: A Case of Overdose of Option and Underdose of Salary?
    Pengjie Gao and Ronald E.Shrieves
    Northwestern University - Department of Finance and University of Tennessee, Knoxville - Department of Finance
    - The Social Science Research Network
  1. Executive Compensation Using Relative-Performance-Based Options: Evaluating the Structure and Costs of Indexed Options
    Lisa K.Meulbroek Harvard Business School
    - The Social Science Research Network
  1. Dividend Payout and Executive Compensation: Theory and Evidence
    Nalinaksha Bhattacharyya , Amin Mawani and Cameron K.J.Morrill
    University of Manitoba - Department of Accounting & Finance , York University
    - The Social Science Research Network
  1. The Pay to Performance Incentive of Executive Stock Options
    by Brian J. Hall
    - The National Bureau of Economic Research

Surveys

  1. Executive Compensation: Six Questions that Need Answering
    John Abowd, Cornell University School of Industrial and Labor Relations
    - The National Bureau of Research
  1. Executive Compensation
    Kevin Murphy, Univ. of Southern California - Marshall School of Business
Last Updated: 10-12-2011