Bell, Brian; Reenen, John Van - Centre for Economic Performance, LSE - 2012
performance (such as shareholder returns and quasi-rents), while workers' pay is only weakly associated with such measures. A 10 … performance are also followed by CEO pay cuts and significantly more CEO firings. This is essentially a result of the … responsiveness of flexible pay to performance and only senior executives have a large enough share of pay in bonuses to generate a …