Executive Discretion and Corporate Performance as Determinants of CEO Compensation, Contingent on External Monitoring Activities

Peter Wright () and Mark Kroll ()

Journal of Management & Governance, 2002, vol. 6, issue 3, 189-214

Abstract: In this paper we discuss the potential impactof managerial discretion and firm performanceon CEO compensation, contingent on the extentof monitoring activities. We argue that CEOcompensation may be positively related toexecutive discretion and corporate performancefor firms that have vigilant external monitors. We alternatively contend that CEO compensationmay neither be associated with discretion norperformance for firms with passive externalmonitors. The empirical results are supportiveof our contentions. Copyright Kluwer Academic Publishers 2002

Keywords: CEO compensation; corporate performance; executive discretion (search for similar items in EconPapers)
Date: 2002
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Citations: View citations in EconPapers (6)

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DOI: 10.1023/A:1019676314682

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