An examination of CEO compensation and turnover in 452 large U.S. companies between 1984 and 1991 provides evidence that compensation policies play a significan

We test the hypothesis that corporate managers leave their jobs less often when they receive stock-based compensation. In a sample of CEOs from 452 U.S. compani

The author analyzes the multi-faceted phenomenon of top executive turnover from various theoretical angles and empirically shows how individual and organization