Americanization as a driver of CEO pay in Europe: The moderating role of CEO power

被引：22
作者：
Schmid, Stefan [1 ]
Altfeld, Frederic [1 ]
Dauth, Tobias [2 ,3 ]
机构：
[1] ESCP Europe, Dept Int Management & Strateg Management, Berlin Campus,Heubnerweg 8-10, D-14059 Berlin, Germany
[2] HHL Leipzig Grad Sch Management, Jahnallee 59, D-04109 Leipzig, Germany
[3] Fraunhofer Ctr Int Management & Knowledge Econ IM, Neumarkt 9-19, D-04109 Leipzig, Germany
来源：
JOURNAL OF WORLD BUSINESS | 2018年 / 53卷 / 04期
关键词：
CEO compensation; CEO power; Americanization; Neo-institutional approaches; Managerial power theory; International diffusion of practices; TOP MANAGEMENT TEAMS; CHIEF EXECUTIVE-COMPENSATION; CORPORATE GOVERNANCE REFORM; FIRM PERFORMANCE; INSTITUTIONAL-THEORY; OWNERSHIP STRUCTURE; INTERNATIONAL EXPERIENCE; ORGANIZATIONAL PRACTICES; BOARD COMPOSITION; GENDER DIVERSITY;
D O I：
10.1016/j.jwb.2017.12.002
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper examines the relationship between Americanization and CEO pay levels in Europe and how this relationship is moderated by CEO power. Based on neo-institutional theory, our study provides empirical support for a link between Americanization and CEO pay levels. Drawing on a sample of large listed European firms, our results suggest that various dimensions of Americanization, i.e., Americanization of the CEO, of the firm and of the industry, can be associated with higher CEO pay. Combining neo-institutional approaches with managerial power perspectives, we show that Americanization can have an even stronger effect on pay when the CEO is powerful.
引用
收藏
页码：433 / 451
页数：19
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