Does the Market for Top Executives Work? CEO Pay and Turnover in Small U.K. Companies

Does the Market for Top Executives Work? CEO Pay and Turnover in Small U.K. Companies This paper presents the results of our investigation into the operation of the managerial labour market in small and medium sized manufacturing companies. Using a sample of some 40 or so companies we study the sensitivity of managerial pay and tenure to company performance. Managerial pay in this type of firms is much lower than the six digit figures quoted for large public companies and CEO turnover is much higher than we expected. We find some evidence to suggest that pay in small companies is sensitive to sales growth and that CEO tenure in public companies responds to the growth in sales. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Small Business Economics Springer Journals

Does the Market for Top Executives Work? CEO Pay and Turnover in Small U.K. Companies

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Publisher
Kluwer Academic Publishers
Copyright
Copyright © 1998 by Kluwer Academic Publishers
Subject
Business and Management; Management; Microeconomics; Entrepreneurship; Industrial Organization
ISSN
0921-898X
eISSN
1573-0913
D.O.I.
10.1023/A:1007908520404
Publisher site
See Article on Publisher Site

Abstract

This paper presents the results of our investigation into the operation of the managerial labour market in small and medium sized manufacturing companies. Using a sample of some 40 or so companies we study the sensitivity of managerial pay and tenure to company performance. Managerial pay in this type of firms is much lower than the six digit figures quoted for large public companies and CEO turnover is much higher than we expected. We find some evidence to suggest that pay in small companies is sensitive to sales growth and that CEO tenure in public companies responds to the growth in sales.

Journal

Small Business EconomicsSpringer Journals

Published: Oct 6, 2004

References

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