Social stigma and executive compensation

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11230%2F18%3A10380391" target="_blank" >RIV/00216208:11230/18:10380391 - isvavai.cz</a>

Výsledek na webu

<a href="https://doi.org/10.1016/j.jbankfin.2018.09.003" target="_blank" >https://doi.org/10.1016/j.jbankfin.2018.09.003</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1016/j.jbankfin.2018.09.003" target="_blank" >10.1016/j.jbankfin.2018.09.003</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Social stigma and executive compensation

Popis výsledku v původním jazyce

We document that executives working at firms perceived negatively in light of social norms, such as tobacco, gambling and alcohol, earn a significant compensation premium. The premium compensates for personal costs executives bear due to their employer&apos;s negative public perception and include: (i) a reduced likelihood these CEOs will serve as directors on other firms&apos; boards, which associates with lower executives&apos; social status, and (ii) impaired job mobility as employers shun stigmatized executives. The compensation premium is not explained by higher managerial skill required in firms we investigate, higher employment contract risk, political capital, litigation risk, or differences in corporate governance quality, and robust to endogeneity concerns. Our results highlight the significant impact job-related social stigma has on executive compensation.

Název v anglickém jazyce

Social stigma and executive compensation

Popis výsledku anglicky

We document that executives working at firms perceived negatively in light of social norms, such as tobacco, gambling and alcohol, earn a significant compensation premium. The premium compensates for personal costs executives bear due to their employer&apos;s negative public perception and include: (i) a reduced likelihood these CEOs will serve as directors on other firms&apos; boards, which associates with lower executives&apos; social status, and (ii) impaired job mobility as employers shun stigmatized executives. The compensation premium is not explained by higher managerial skill required in firms we investigate, higher employment contract risk, political capital, litigation risk, or differences in corporate governance quality, and robust to endogeneity concerns. Our results highlight the significant impact job-related social stigma has on executive compensation.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50201 - Economic Theory

Projekt

Výsledek vznikl pri realizaci vícero projektů. Více informací v záložce Projekty.

Návaznosti

P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Rok uplatnění

2018

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Journal of Banking and Finance

ISSN

0378-4266

e-ISSN

—

Svazek periodika

96

Číslo periodika v rámci svazku

November

Stát vydavatele periodika

NL - Nizozemsko

Počet stran výsledku

16

Strana od-do

169-184

Kód UT WoS článku

000450020200011

EID výsledku v databázi Scopus

2-s2.0-85053800435