Changes in executive compensation following an environmental shift: The role of top management team turnover

• 成果类型: Editorial Material
• 署名作者: Cho, Theresa S.; Shen, Wei
• 署名单位: Rutgers University System; Rutgers University New Brunswick; State University System of Florida; University of Florida
• 刊物名称: STRATEGIC MANAGEMENT JOURNAL
• ISSN/ISSBN: 0143-2095
• DOI: 10.1002/smj.600
• 发表日期: 2007
• 页码: 747-754
• 关键词: TOP MANAGEMENT TEAM; Executive compensation; turnover; deregulation

摘要

In this study we examine the changes in executive compensation at the top management team (TMT) level following an environmental shift. Using the context of deregulation in the airline industry, we find that: (1) a dramatic environmental change that heightens managerial discretion leads to greater pay level and performance sensitivity of TMT compensation; and (2) the greater the magnitude of turnover among TMT members following the environmental shift, the greater the compensation change. Copyright (C) 2007 John Wiley & Sons, Ltd.