Managerialist and human capital explanations for key executive pay premiums: A contingency perspective

Academy of Management Journal

Volumn 46, Issue 1, 2003, Pages 63-73

  Combs, James G ^a   Skill, Maura S ^b  

^a FLORIDA STATE UNIVERSITY   (United States)

^b UNIVERSITY OF DAYTON   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0037297514     PISSN: 00014273     EISSN: None     Source Type: Journal    
DOI: 10.2307/30040676     Document Type: Article

References (43)

1. Agarwal, N. C. 1981. Determinants of executive compensation. Industrial Relations, 20: 36-45.
2. Agrawal, A., & Walkling, R. A. 1994. Executive careers and compensation surrounding takeover bids. Journal of Finance, 49: 985-1014.
3. Andrews, K. R. 1971. Hie concept of corporate strategy. Homewood, IL: Dow Jones-Irwin.
4. Barney, J. B. 1991. Finn resources and sustained competitive advantage. Journal of Management, 17: 99-120.
5. Berle, J. A., & Means, G. C. 1932. Wie modern corporation and private property. New York: Macmillan.
6. Brancato, C. K. 1997. Institutional investors and corporate governance: Best practices for increasing corporate value. Chicago: Irwin.
7. Castanias, R. P., & Helfat, C. E. 1991. Managerial resources and rents. Journal of Management, 17: 155-172.
8. Charan, R. 1998. Boards at work: How corporate boards create competitive advantage. San Francisco: Jossey-Bass.
9. Dalton, D. R., Daily, G. M., Ellstrand, A. E., & Johnson, J. L. 1998. Meta-analytic reviews of hoard composition, leadership structure, and financial performance. Strategic Management Journal, 19 269-290.
10. Davidson, W. N. I., Nemec, C., & Worrell, D. L. 2001 Succession planning vs. agency theory: A test of Harris and Helfat's interpretation of plurality announcement market returns. Strategic Management Journal, 22: 179-184.
11. Fama, E. F., & Jensen, M. C. 1983. The separation of ownership and control. Journal of Law and Economics, 26: 301-325.
12. Finkelstein, S. 1992. Power in top management teams Dimensions, measurements, and validation. Academy of Management Journal, 35: 505-538.
13. Finkelstein, S., & Boyd, B. K. 1998. How much does the CEO matter? The role of managerial discretion in the setting of CEO compensation. Academy of Management Journal, 41: 179-199.
14. Finkelstein, S., & D'Aveni, R. 1994. CEO duality as a double-edged sword: How boards of directors balance entrenchment avoidance and unity of command. Academy of Management Journal, 37 1079-1108.
15. Finkelstein, S., & Hambrick, D. C. 1988. Chief executive compensation: A synthesis and reconciliation. Strategic Management Journal, 9: 543-558.
16. Fisher, J., & Govindarajan, V. 1992, Profit center manager compensation: An examination of market, political and human capital factors. Strategic Management Journal, 13: 205-217.
17. Forbes. 1999. Compensation fit for a king. 163(10): 202-203.
18. Fredrickson, J. W., Hambrick, D. C., & Baumrin, S. 1988 A model of CEO dismissal. Academy of Management Review, 13: 255-270.
19. Gomez-Mejia, L. R. 1994. Executive compensation: A reassessment and a future research agenda. In G. R. Ferris (Ed.), Research in personnel and human resources management, 12: 161-222. Greenwich, CT JAI Press.
20. Gomez-Mejia, L. R., Tosi, H. L., & Hinkin, T. 1987. Managerial control, performance, and executive compensation. Academy of Management Journal, 30: 51-70.
21. Harris, D., & Helfat, C. 1997. Specificity of CEO human capital and compensation. Strategic Management Journal, 18: 895-920.
22. Harris, D., & Helfat, C. 1998. CEO duality, succession capabilities and agency theory: Commentary and research agenda. Strategic Management Journal, 19 901-904.
23. Henderson, A. D., & Fredrickson, J. W. 1996. Information-processing demands as a determinant of CEO compensation. Academy of Management Journal, 39 575-606.
24. Hill, C. W. L., & Phan, P. 1991. CEO tenure as a determinant of CEO pay. Academy of Management Journal, 34: 707-717.
25. Jayaraman, N., Khorana, A., Nelling, E., & Covin, J. 2000. CEO founder status and firm financial performance. Strategic Management Journal, 21: 1215-1224.
26. Jensen, M. C., & Murphy, K. J. 1990. Performance pay and top management incentives. Journal of Political Economy, 98: 225-264.
27. Johnson, W. B., Magee, R. P., Nagarajan, N. J., & Newman, H. A. 1985. An analysis of the stock price reaction to sudden executive deaths: Implications for the managerial labor market. Journal of Accounting and Economics, 7: 151-174.
28. Kroll, M., Simmons, S. A., & Wright, P. 1990. Determinants of chief executive officer compensation following major acquisitions. Journal of Business Research, 20: 349-366.
29. Kroll, M., Wright, P., & Theerathorn, P. 1993. Whose interests do hired top managers pursue? An examination of select mutual and stock life insurers. Journal of Business Research, 26: 133-148.
30. McWilliams, A., & Siegel, D. 1997. Event studies in management research: Theoretical and empirical issues. Academy of Management Journal, 40: 626-657.
31. Merton, R. C. 1973. Theory of rational option pricing. Bell Journal of Economics and Management Science, 4: 141-183.
32. Mintzberg, H. 1973. The nature of managerial work. New York: Harper & Row.
33. Pedhazur, E., & Schmelkin, L. 1991. Measurement, design, and analysis. Hillsdale, NJ: Erlbaum.
34. Reingold, J., & Jesperson, F. 2000. Executive pay. BusinessWeek, April 17: 100-102.
35. Sanders, W. M. G., & Carpenter, M. A. 1998. Internationalization and firm governance: The roles of CEO compensation, top team composition, and board structure. Academy of Management Journal, 41: 158-178.
36. Shivdasani, A., & Yermack, D. 1999. CEO involvement in the selection of new board members: An empirical analysis. Journal of Finance, 54: 1829-1853.
37. Shleifer, A., & Vishny, R. W. 1989. Management entrenchment: The case of manager-specific investments. Journal of Financial Economics, 25: 123-129.
38. Thomas, J. B., Clark, S. M., & Gioia, D. A. 1993. Strategic sensemaking and organizational performance: Linkages among scanning, interpretation, action, and outcomes. Academy of Management Journal: 239-270.
39. Tosi, H. L., Werner, S" Katz, J. P., & Gomez-Mejia, L. 2000. How much does performance matter? A meta-analysis of CEO pay studies, Journal of Management, 26: 301-339.
40. Walsh, J. P., & Seward, J. K. 1990. On the efficiency of internal and external corporate control mechanisms. Academy of Management Journal, 15: 421-458.
41. Worrell, D. L., Davidson, W. N. I., Chandy, P. R., & Garrison, S. L. 1986. Management turnover through deaths of key executives: Effects on investor wealth. Academy of Management Journal, 29: 674-694.
42. Worrell, D. L., Nemec, C., & Davidson, W. N. I. 1997. One hat too many: Key executive plurality and shareholder wealth. Strategic Management Journal, 18: 499-507.
43. Yukl, G. 1998. Leadership in organizations (4th ed.). Upper Saddle River, NJ: Prentice-Hall.