Les Cahiers de Recherche - HEC Paris
No 665:
Performance des Grands Groupes et Stratégies de rétribution des dirigeants
Georges TREPO and Patrice ROUSSEL
Abstract: In today's managerial world (corporate governance,
shareholders' wealth maximization, agency theory) how are CEOs paid in the
700 layest French firms ? What are the various components of total
compensation: fixed camp, bonus fringes, stock options ? What parties
influence the mix and amounts : board, compensation committee, CEO himself,
etc. ? On what criteria is CEOs' compensation based : objective /
subjective criteria, short term / medium term, etc. ? What ratio between
the various layers of employees from CEO to workers? How and where are CEOs
recruited ? These are the major questions to which we produce answers. We
also tests various theories like tournament or compensation as a key
element of social status.
Keywords: CEO compensation; agency theory; corporate governance; (follow links to similar papers)
JEL-Codes: J33; M10; M12; (follow links to similar papers)
25 pages, January 15, 1999
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