Terrorist attacks and CEO compensation: UK evidence

被引：0
作者：
Huang, Wenxuan [1 ]
Xu, Weidong [1 ]
Gao, Xin [1 ]
Li, Donghui [2 ]
Fu, Wentao [3 ]
机构：
[1] Zhejiang Univ, Sch Management, Hangzhou, Peoples R China
[2] Shenzhen Univ, Coll Econ, Shenzhen, Peoples R China
[3] Bournemouth Univ, Business Sch, Poole, England
来源：
RESEARCH IN INTERNATIONAL BUSINESS AND FINANCE | 2023年 / 64卷
基金：
中国国家自然科学基金;
关键词：
Terrorist attack; CEO compensation; Rank-and-file employee compensation; Media coverage; CEO bargaining power; EXECUTIVE-COMPENSATION; CORPORATE GOVERNANCE; COWORKER SUPPORT; SOCIAL SUPPORT; RISK EVIDENCE; MEDIA; PERFORMANCE; PAY; IMPACT; POWER;
D O I：
10.1016/j.ribaf.2022.101861
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This paper shows that both CEO compensation and rank-and-file employee compensation rise after terrorist attacks by employing a sample of 2558 firms in the UK from 1999 to 2018. The structure of CEO compensation growth differs in accordance with different cutoffs. Further an-alyses show that media coverage and CEO bargaining power accentuate the effect of terrorist attacks on CEO compensation and rank-and-file employee compensation, and the impact of media is mainly based on the information dissemination function. Our results remain valid after taking into account various robustness tests and endogeneity concerns.
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页数：24
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