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Justifying CEO Pay Ratios: Analysing Corporate Responses to Bloomberg’s Listing of Standard & Poor’s 500 Pay Ratios

In: Dimensional Corporate Governance

Author

Listed:
  • Manuel Castelo Branco

    (University of Porto)

  • Catarina Delgado

    (University of Porto)

Abstract

This study analyzes Standard & Poor’s 500 Index top 250 companies’ responses to Bloomberg’s disclosed calculations of CEO pay ratios. The results suggest that CEO pay ratios, CEO compensations and average worker compensations do not seem to be related to the decision to respond. They also indicate that many of the corporations have adopted a strategy of avoiding the issue or deflecting attention from it by either choosing not to respond or criticizing the technicalities of the calculation of the CEO pay ratios. Corporations that responded largely conceptualize and communicate the rationale for high executive compensation in performance-driven language.

Suggested Citation

  • Manuel Castelo Branco & Catarina Delgado, 2017. "Justifying CEO Pay Ratios: Analysing Corporate Responses to Bloomberg’s Listing of Standard & Poor’s 500 Pay Ratios," CSR, Sustainability, Ethics & Governance, in: Nicholas Capaldi & Samuel O. Idowu & René Schmidpeter (ed.), Dimensional Corporate Governance, pages 21-36, Springer.
  • Handle: RePEc:spr:csrchp:978-3-319-56182-0_2
    DOI: 10.1007/978-3-319-56182-0_2
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    Cited by:

    1. Tristan B. Johnson, 2022. "The effects of the mandated disclosure of CEO-to-employee pay ratios on CEO pay," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 19(1), pages 67-92, March.

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