Graziano, Clara; Rondi, Laura - 2015 - This draft: June 8, 2015
firms from 2000 to 2011 and tests the impact of the 2007-08 financial crisis on pay-performance sensitivity. We argue that … important differences both in the level of compensation and in its sensitivity to firm performance depend on two conditioning … differentiated. Overall, the compensation of Italian CEOs is positively related to firm performance. Moreover, consistent with our …