Why Has CEO Pay Increased So Much?
Publication information:
Gabaix, Landier. Why Has CEO Pay Increased So Much? Quarterly Journal of Economics. 2008;123(1):49–100.
Abstract
A tractable model of CEO pay. An upshot: the six-fold rise in CEO pay between 1980 and 2003 can be fully attributed to the six-fold increase in market capitalization of large companies during that period.