Perspectives on Corporate Control: Implications for CEO Compensation
Human Relations · 1997 · Volume 50 · Issue 7
DOI: 10.1177/001872679705000704
Abstract
This study examines the influence on CEO pay practices of four corporate control perspectives: managerial control, class hegemony, external control, and efficient market. The results indicate the influence of both market and extra-market controls on the determination of CEO pay levels and criteria. Implications for the governance of firms and the study of corporate control are drawn.
Keywords
corporate governance and control, CEO compensation, market and extra-market controls
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