HIGHLIGHTS
- who: GOVERNANCE? and collaborators from the Department of Economics, Londonc The Author(s) Published by Oxford University Press on behalf of European Economic Association. have published the Article: CEO PAY AND THE RISE OF RELATIVE PERFORMANCE CONTRACTS: A QUESTION OF GOVERNANCE?, in the Journal: (JOURNAL)
- what: Using hand-collected data from annual reports on explicit contracts the authors show that CEO pay still responds more to increases in the firms' stock than to decreases and importantly this asymmetry is stronger when corporate is weak as measured by low institutional ownership; and_(2) "pay for luck . . .
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