Institutional variation and top executive pay: Cross-country evidence


Recent research devotes increasing attention to the relation between the institutional environment of a country and its economic performance. We consider the question whether institutional differences between countries help explain differences in the organization of companies. We select one important dimension of corporate organization: the level and structure of top level management compensation. Examining this dimension helps us to identify whether important cross-country differences in the institutional framework imply differences in the relative power of CEOs and in the agency costs that arise because the owner of the firm delegates power to the manager.


Principal investigators
Brenner, Steffen Dr.rer.pol. (Details) (Management Studies)

Duration of project
Start date: 06/2006
End date: 06/2008

Last updated on 2022-07-09 at 21:05