aut.researcher	Cimerova, Helena
dc.contributor.author	Cimerova, H
dc.date.accessioned	2015-01-29T21:27:02Z
dc.date.available	2015-01-29T21:27:02Z
dc.date.copyright	2014-06-19
dc.date.issued	2014-06-19
dc.description.abstract	We study the effects of job market conditions at the start of future CEOs’ careers. We find no evidence of persistent rewards for US public firms’ CEOs for starting their career in more successful firms, or for the luck of entering the job market in a good economy. Rather, we show that long-term effects are countercyclical as those executives who start their careers in a recession earn a higher CEO pay, consistent with selection. We also find that initial job conditions may yield a higher first CEO compensation but the positive effect dissipates over time. While related labor market research points to procyclical cohort effects and suggests that favorable initial conditions positively affect careers in the long run, our findings support the notion that the market for CEOs is efficient.
dc.identifier.citation	IFABS 2014 Conference, Lisbon, Portugal held at ISCTE Business School, ISCTE-IUL, Lisbon, Portugal, 2014-06-18 to 2014-06-20
dc.identifier.uri	https://hdl.handle.net/10292/8353
dc.publisher	International Finance and Banking Society (IFABS)
dc.relation.uri	https://www.conftool.com/ifabs2014/index.php?page=browseSessions&abstracts=show&form_session=42&presentations=show
dc.rights	NOTICE: this is the author’s version of a work that was accepted for publication. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in (see Citation). The original publication is available at (see Publisher's Version).
dc.rights.accessrights	OpenAccess
dc.title	Do good starts make good finishes? The case of CEO pay
dc.type	Conference Contribution
pubs.elements-id	169998
pubs.organisational-data	/AUT
pubs.organisational-data	/AUT/Business & Law

Do good starts make good finishes? The case of CEO pay

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