Compensation of Top Executives: Determinants and Consequences
Executive compensation practices at large companies attract attention from a range of perspectives. They shape the incentives of executives and can affect firm behavior, they are affected by the regulatory environment in which publicly-traded firms operate, they have been the subject of disclosure and corporate governance reforms, and they affect the income distribution. To better understand the determinants of compensation practices for top executives, and the consequences of different practices, the National Bureau of Economic Research (NBER), with the generous support of Norges Bank Investment Management, will convene a research conference on Thursday, December 7, 2023 in Cambridge, Massachusetts. The meeting will be organized by Dirk Jenter (London School of Economics) and Kelly Shue (Yale University and NBER).
Research contributions on top executive compensation from various sub-fields of economics, including financial economics, industrial organization, labor economics, law and economics, and public finance, are welcome. Studies using new data sources or innovative research methods are encouraged. Particular topics of interest include, but are not limited to:
• The effects of CEO pay, and compensation of other top executives, on firm performance and behavior
• The relationship between executive pay and the market for executive talent
• The role of institutional investors and other shareholders in setting executive pay
• Drivers of variation in the pay of CEOs and other top firm leaders across time, firms, and countries
• The incentive trade-offs and other considerations that affect the optimal design of executive pay contracts
• The effects of regulation on CEO pay
The organizers welcome submissions of both empirical and theoretical research, including papers by scholars who are early in their careers, who are not NBER affiliates, and who are from groups that are under-represented in the economics and finance professions.
To be considered for inclusion on the program, upload papers by midnight ET on Monday, August 28, 2023.
Please do not submit papers that have been accepted for publication and that will be published by December 2023. Authors chosen to present papers will be notified in early September.
The NBER will cover the travel costs of up to two authors per paper, subject to NBER travel reimbursement regulations. All additional authors are welcome to attend the conference at their own expense. Presenters are encouraged to participate in person, but the meeting will also include a virtual component for those who are unable to do so. Questions about this conference may be addressed to confer@nber.org.