CEO Pay Determinants. An Empirical Analysis for Europe and the USA (2000-2006)

A lot of research has been done on the CEO pay determinant factors. However, findings do not reach a single conclusion. To overcome this, in the present paper an effort will be made to introduce a unique worldwide formula for CEO remuneration and through this it will be attempted to relate CEO pay with many determinant factors such as: economic growth, obstacles to entrepreneurship, trade union power, uncertainty avoidance, masculinity versus femininity as well as power distance. Our sample covers Western Europe and the United States of America for the period 2000-2006. The elaboration of panel data regression will be feasible by means of the Eviews software. Hence, the contribution of this paper is that it gives an answer by using globally the same measure of CEO pay