A comparison of CEO pay–performance sensitivity in privately-held and public firms

• Main Authors: Gao, Huasheng, Li, Kai
• Other Authors: Nanyang Business School
• Format: Article
• Language: English
• Published: 2016
• Subjects: Ownership concentration; CEO pay; Pay–performance sensitivity; Privately-held firms
• Online Access: https://hdl.handle.net/10356/81582; http://hdl.handle.net/10220/39554
• Institution: Nanyang Technological University

In this paper we study CEO contract design employing a unique dataset on privately-held and public firm CEO annual compensation over the period 1999–2011. We first show that CEOs in public firms are paid 30% more than CEOs in comparable privately-held firms. We further show that both private and pub...