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A note on CEO compensation, elimination tournaments and bankruptcy risk

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  • Guido Friebel
  • Alexander Matros

Abstract

We investigate an economy in which firms have different risks to go bankrupt. We observe two things: first, workers in firms with higher bankruptcy risk (bad firms) always work less than workers in good firms. Second, the CEOs of bad firms may nonetheless receive larger wages. Copyright Springer-Verlag Berlin/Heidelberg 2005

Suggested Citation

  • Guido Friebel & Alexander Matros, 2005. "A note on CEO compensation, elimination tournaments and bankruptcy risk," Economics of Governance, Springer, vol. 6(2), pages 105-111, July.
    • Handle: RePEc:spr:ecogov:v:6:y:2005:i:2:p:105-111
    DOI: 10.1007/s10101-005-0104-3
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    Citations

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    Cited by:

    1. Berardi, Nicoletta & Seabright, Paul, 2011. "Professional Network and Career Coevolution," TSE Working Papers 11-258, Toulouse School of Economics (TSE).
    2. Jebreel Mohammad Al-Al-Msiedeen & Fawzi A. Al Sawalqa, 2021. "Ownership Structure and CEO Compensation: Evidence from Jordan," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 11(5), pages 365-383, May.
    3. Soiliou Namoro, 2008. "The Impact of Organizer Market Structure on Participant Entry Behavior in a Multi-Tournament Environment," Working Paper 373, Department of Economics, University of Pittsburgh, revised Nov 2008.
    4. Kräkel, Matthias & Nieken, Petra, 2015. "Relative performance pay in the shadow of crisis," European Economic Review, Elsevier, vol. 74(C), pages 244-268.
    5. Sunaina Kanojia & Shasta Gupta, 2023. "Bankruptcy in Indian context: perspectives from corporate governance," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 27(2), pages 505-545, June.
    6. Timothy Mathews & Soiliou Namoro, 2008. "Participation incentives in rank order tournaments with endogenous entry," Journal of Economics, Springer, vol. 95(1), pages 1-23, October.

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