Artikel
CEOs’ International Work Experience and Compensation
In this paper, we study the effect a CEO's international work experience has on his or her compensation. By combining human capital theory with a resource dependence and a resource-based perspective, we argue that international work experience translates into higher pay. We also suggest that international work experience comprises several dimensions that affect CEO compensation: duration, timing and breadth of stays abroad. With data from Europe's largest stock market firms, we provide evidence that the longer the international work experiences and the more numerous they are, the higher a CEO's compensation. While, based on our theoretical arguments, we expect to find that later international work experiences pay off for CEOs, our empirical analysis shows that earlier international work experiences are particularly valuable in terms of compensation. In addition, our data support the argument that maturity allows a CEO to take advantage of the skills, knowledge and competencies obtained via international experience—and to receive a higher payoff. With our study, we improve the understanding of how different facets of a CEO's background shape executive remuneration.
- Sprache
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Englisch
- Erschienen in
-
Journal: Management International Review ; ISSN: 1861-8901 ; Volume: 61 ; Year: 2021 ; Issue: 3 ; Pages: 313-364 ; Berlin, Heidelberg: Springer
- Klassifikation
-
Wirtschaft
- Thema
-
Executive compensation
Human capital theory
Resource dependence theory
Resource-based view
International top managers
International experience
International work experience
Maturity
Cultural distance
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Schmid, Stefan
Baldermann, Sebastian
- Ereignis
-
Veröffentlichung
- (wer)
-
Springer
- (wo)
-
Berlin, Heidelberg
- (wann)
-
2021
- DOI
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doi:10.1007/s11575-021-00444-z
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
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Objekttyp
- Artikel
Beteiligte
- Schmid, Stefan
- Baldermann, Sebastian
- Springer
Entstanden
- 2021
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