Scandinavian Working Papers in Economics

Working Papers,
University of Aarhus, Aarhus School of Business, Department of Economics

No 03-3: Managerial Pay and Executive Turnover in the Czech and Slovak Republics

Tor Eriksson ()
Additional contact information
Tor Eriksson: Department of Economics, Aarhus School of Business, Postal: The Aarhus School of Business, Prismet, Silkeborgvej 2, DK 8000 Aarhus C, Denmark

Abstract: Despite the crucial role played by managers in changing the functioning of labour markets in transition economies, research on the determinants of executive pay and CEO turnover in these countries is almost non-existent. The current paper aims at adding to this minuscule literature. For this purpose I make use of a unique data set containing relevant firm-manager information from the Czech and Slovak Republics in the late nineties. This allows me to examine the influence of individual and in particular firm characteristics, such as, size, ownership type, industry and region, as well as corporate performance on chief executive compensation levels and changes therein and on the probability of the executive being turned over.

Keywords: Managerial Compensation; CEO Turnover; Corporate Performance

JEL-codes: J31; J44; M52; P31

24 pages, February 1, 2003

Note: Published in: Economics of Transition, 2005 (13), 659-677

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