Core, John E.; Guay, Wayne R.; Thomas, Randall S. - 2023
contracts do not provide strong enough incentives to increase value (i.e., there is too little pay-for-performance); (3) options … and other equity-based pay provide windfalls, large payoffs that reflect good luck more than good performance; and (4 … firm performance; (2) recent growth in annual pay may well be appropriate to compensate CEOs for recent growth in incentive …