This paper reviews the theoretical and empirical literature on executive compensation. We
start by presenting data on the level of CEO and other top executive pay over time and …

This paper surveys the recent literature on CEO compensation. The rapid rise in CEO pay
over the past 30 years has sparked an intense debate about the nature of the pay-setting …

NEW YORK TIMES BESTSELLER From the Nobel Prize-winning author of Thinking, Fast
and Slow and the coauthor of Nudge, a revolutionary exploration of why people make bad …

Abstract Research Summary We introduce an open‐source dataset documenting the
reasons for CEO departure in S&P 1500 firms from 2000 through 2018. In our dataset, we …

This article examines managers' incentive to play it safe. We find that, after managers are
insulated by the adoption of an antitakeover law, they take value-destroying actions that …

We show that pay is higher for chief executive officers (CEOs) with general managerial skills
gathered during lifetime work experience. We use CEOs' résumés of Standard and Poor's …

Empirical evidence on the relations between board independence and board decisions and
firm performance is generally confounded by serious endogeneity issues. We circumvent …

We show that economic conditions when managers enter the labor market have long-run
effects on their career paths and managerial styles. Managers who began their careers …

We survey directors and investors on the objectives, constraints, and determinants of CEO
pay. We find that directors face constraints beyond participation and incentives, and that pay …

We show that firms with chief executive officers (CEOs) who gain general managerial skills
over their lifetime of work experience produce more patents. We address the potential …