2016

The Impact of CEO Long-term Equity-based Compensation Incentives on Economic Growth in Collectivist versus Individualist Countries

Särtryck nr 2016:30

Författare: Cynthia J. Campbell, Rosita P. Chang, Jack C. De Jong Jr., Robert Doktor, Lars Oxelheim och Trond RandøyÅr: 2016 Publikation: Asian Economic Papers Årgång (nr): 15 (2) Sidor: 109–133

The Impact of CEO Long-term Equity-based Compensation Incentives on Economic Growth in Collectivist versus Individualist Countries Cynthia J. Campbell, Rosita P. Chang, Jack C. De Jong Jr., Robert Doktor, Lars Oxelheim och Trond Randøy


This study examines the impact of the prevalence of long-term equity-based chief executive officer (CEO) compensation incentives on GDP growth, and we address the moderating role of individualist versus collectivist cultures on this relationship. We argue that long-term incentives given to CEOs in some firms may convey to other CEOs that they too may be able to receive such incentives and rewards if they emulate the incentivized and rewarded CEOs. In a longitudinal study across 22 nations over a 5-year period, we find that the higher proportion of CEOs in a country are awarded long-term equity-based incentive compensation, the greater future real GDP growth, particularly in collectivist countries.


Referens:
Campbell, Cynthia, Rosita P. Chang, Jack C. De Jong Jr., Robert Doktor, Lars Oxelheim och Trond Randøy (2016), "The Impact of CEO Long-term Equity-based Compensation Incentives on Economic Growth in Collectivist versus Individualist Countries". Asian Economic Papers 15(2), 109–133.

Lars Oxelheim

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Niclas Berggren

Forskningsområden: Institutionell och politisk ekonomi; tillit, tolerans och religion; skönhetens betydelse i politiken.

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  • Hur påverkar t.ex. tillit, tolerans och religion ekonomins funktionssätt?
  • Finns det ett samband mellan graden av marknadsekonomi och sociala variabler (som tillit och tolerans)?

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