The Effects of Top Management Team Pay and Firm Internationalization on MNC Performance |
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| Authors: | Mason A. Carpenter [Author Vitae] |
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| Affiliation: | School of Business, University of Wisconsin-Madison, 975 University Avenue, Madison, WI 53706, USA; The Marriott School, Brigham Young University, Provo, UT 84602, USA |
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| Abstract: | We examine relationships among top management team (TMT) compensation, a firm’s degree of internationalization (DOI), and its subsequent levels of market and accounting performance. Consistent with our contingency view of information-processing theory, we find that non-CEO total pay and the use of long-term incentive pay are positively associated with subsequent performance, whereas the CEO-TMT total pay gap has negative effects on firm performance. CEO pay has no relationship with performance and TMT pay effects are much stronger in MNCs with high DOI. |
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