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Political Promotion, CEO Incentives, and the Relationship Between Pay and Performance

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dc.contributor.authorCao, Xiaping
dc.contributor.authorLemmon, Michael
dc.contributor.authorPan, Xiaofei
dc.contributor.authorQian, Meijun
dc.contributor.authorTian, Gary
dc.date.accessioned2021-01-27T22:12:18Z
dc.date.issued2019
dc.date.updated2020-11-02T04:22:55Z
dc.description.abstractBoth theory and empirical evidence suggest that managers’ career concerns can serve as an important source of implicit economic incentives. We examine how incentives for political promotion are related to compensation policy and firm performance in Chinese state-owned enterprises. We find that the likelihood that the CEO receives a political promotion is positively related to firm performance. We also find that CEOs with a higher likelihood of political promotion have lower pay levels and lower pay–performance sensitivity. Overall, the evidence suggests that competition in the political job market helps mitigate weak monetary incentives for CEOs in Chinaen_AU
dc.format.mimetypeapplication/pdfen_AU
dc.identifier.issn0025-1909en_AU
dc.identifier.urihttp://hdl.handle.net/1885/220035
dc.language.isoen_AUen_AU
dc.publisherInstitute for Operations Research and the Management Sciencesen_AU
dc.rights© 2018, INFORMSen_AU
dc.sourceManagement Scienceen_AU
dc.source.urihttps://pubsonline.informs.org/doi/10.1287/mnsc.2017.2966en_AU
dc.subjectmanagerial incentivesen_AU
dc.subjectpolitical promotionen_AU
dc.subjectperformanceen_AU
dc.subjectCEO compensationen_AU
dc.titlePolitical Promotion, CEO Incentives, and the Relationship Between Pay and Performanceen_AU
dc.typeJournal articleen_AU
local.bibliographicCitation.issue7en_AU
local.bibliographicCitation.lastpage2965en_AU
local.bibliographicCitation.startpage2947en_AU
local.contributor.affiliationCao, Xiaping, Lingnan Collegeen_AU
local.contributor.affiliationLemmon, Michael, BlackRocken_AU
local.contributor.affiliationPan, Xiaofei, University of Wollongongen_AU
local.contributor.affiliationQian, Meijun, College of Business and Economics, ANUen_AU
local.contributor.affiliationTian, Gary, Macquarie Universityen_AU
local.contributor.authoruidQian, Meijun, u1007400en_AU
local.description.embargo2099-12-31
local.description.notesImported from ARIESen_AU
local.identifier.absfor140207 - Financial Economicsen_AU
local.identifier.absfor150303 - Corporate Governance and Stakeholder Engagementen_AU
local.identifier.absfor150311 - Organisational Behaviouren_AU
local.identifier.ariespublicationu3102795xPUB4768en_AU
local.identifier.citationvolume65en_AU
local.identifier.doi10.1287/mnsc.2017.2966en_AU
local.identifier.thomsonIDWOS:000475704700001
local.publisher.urlhttps://pubsonline.informs.org/doi/10.1287/mnsc.2017.2966en_AU
local.type.statusPublished Versionen_AU

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