Terrorist attacks, CEO overconfidence, and CEO compensation

被引：0
|
作者：
Hwang, Yunji [1 ]
Han, Seung Hun [1 ]
机构：
[1] Korea Adv Inst Sci & Technol, Sch Business & Technol Management, 291 Daehak Ro, Daejeon, South Korea
来源：
FINANCE RESEARCH LETTERS | 2022年 / 46卷
基金：
新加坡国家研究基金会;
关键词：
CEO compensation; CEO overconfidence; Exogenous shocks; Terrorist attacks;
D O I：
暂无
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This study examines how terrorist attacks and CEO confidence levels impact CEO compensation structures. Terrorist attacks in the United States from 1999 to 2018 are examined as negative exogenous shocks affecting CEO compensation. The findings indicate that overconfident CEOs of affected firms are likely to receive higher equity compensation than overconfident CEOs of firms located far from attacks, while non-overconfident CEOs of affected firms receive higher cash compensation than CEOs located far from attacks. This study contributes to the literature by examining how CEO compensation levels and structures vary according to nonfinancial shocks and CEO confidence levels.
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收藏
页数：6
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