Power and Pay: The Politics of CEO Compensation

Galal Elhagrasey, J. Harrison and Rogene Buchholz

Journal of Management & Governance, 1998, vol. 2, issue 4, 334 pages

Abstract: This paper examines CEO compensation, with an emphasis on the power of CEOs to influence their own compensation by managing the compensation process. It analyzes the CEO's power over the board of directors and the political tactics used by the CEO to manage the board and its compensation decisions. An empirical examination of CEO compensation in 203 large American manufacturing firms in 1985 illustrates the effect of CEO power on compensation and the flexibility available to the CEO in establishing the legitimacy of compensation. The implications of this perspective for management control of corporations and for CEO compensation research are considered. Copyright Kluwer Academic Publishers 1998

Date: 1998
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DOI: 10.1023/A:1009975019195

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