Public Disclosure and its Impact on CEO Compensation: Evidence of Media Influence
I investigate the impact of being identified on AFL-CIO executive paywatch on future CEO compensation. I find that publication of CEO compensation has negative impact on the change of CEO compensation. Moreover, I find that the ex-ante excessive CEO compensation reduces the change of CEO compensation. This paper contributes to the literature in the part of documenting that firms respond to negative press coverage on CEO compensation even after controlling for the mean reversion of high CEO compensation.
Authors
- Xin Zhao (ORCID: https://orcid.org/0000-0003-0604-9641)
Publication Details
- Journal
- Journal of global awareness
- Published
- 2024-12-23
- DOI
- https://doi.org/10.24073/jga/5/02/09
- Primary Topic
- Auditing, Earnings Management, Governance
- Type
- article
- Field-Weighted Citation Impact
- 0.00
Funders
- Temple University