The effects of firm performance on CEO compensation and CEO pay ratio before and during COVID-19

Ryan Ye, Yanan Chen and Kyle A. Kelly

Research in Economics, 2023, vol. 77, issue 4, 453-458

Abstract: This study analyzes the effects of firm performance on CEO compensation and CEO pay ratio (the ratio of CEO compensation and the median employee's salary) before and during the COVID-19 pandemic. Using a sample of 4410 observations from S&P 1500 firms from 2018 to 2021, we find that CEO compensation and CEO pay ratio increased during the COVID-19. Firm performance, measured by return on assets and log term of firm's sales, positively affect CEO compensation and CEO pay ratio. However, the effects are the same before and during the COVID-19 pandemic.

Keywords: CEO compensation; CEO pay ratio; Firm performance; COVID pandemic (search for similar items in EconPapers)
JEL-codes: J33 J70 M41 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eee:reecon:v:77:y:2023:i:4:p:453-458

DOI: 10.1016/j.rie.2023.07.002

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