Compensation of Top Executives: Determinants and Consequences
Organized by Dirk Jenter and Kelly Shue
Supported by Norges Bank Investment Management
December 7, 2023
NBER, 1050 Massachusetts Avenue, Cambridge, MA, Zoom

Thursday, December 7

9:00 am

Coffee and Pastries

9:19 am

Competition and CEO Pay:

9:20 am

Competition and Executive Compensation: Evidence from Pharmaceutical Breakthrough Designations

Jon A. Garfinkel, University of Iowa
Mosab Hammoudeh, University of New Orleans
Steve Irlbeck, University of New Hampshire
Erik Lie, University of Iowa

Discussant:
Xuelin Li, Columbia University

10:20 am

Performance Pay Plans, Power and Product Prices

Matthew J. Bloomfield, University of Pennsylvania

Discussant:
Michael S. Weisbach, The Ohio State University and NBER

11:10 am

Break

11:29 am

Labor and CEO Pay:

11:30 am

Pay, Productivity and Management

Nicholas Bloom, Stanford University and NBER
Scott W. Ohlmacher, Board of Governors of the Federal Reserve System
Cristina Tello-Trillo, U.S. Census Bureau
Melanie Wallskog, Duke University

Discussant:
Simcha Barkai, Boston College

12:20 pm

Lunch

1:30 pm

The Labor Market Impact of Shareholder Power: Worker-Level Evidence

Antonio Falato, Federal Reserve Board of Governors
Daniel Gallego, Northwestern University
Hyunseob Kim, Federal Reserve Bank of Chicago
Till M. von Wachter, University of California, Los Angeles and NBER

Discussant:
Steven N. Kaplan, University of Chicago and NBER

2:20 pm

Break

2:39 pm

Agency and Behavioral Frictions:

2:40 pm

Climate-linked Pay and Supply Chain Management

Minjia Li, University of Alberta

Discussant:
Janet Gao, Georgetown University

3:30 pm

A Theory of Fair CEO Pay

Pierre Chaigneau, Queen’s University
Alex Edmans, London Business School
Daniel Gottlieb, London School of Economics and Political Science (LSE)

Discussant:
Edward D. Van Wesep, University of Colorado Boulder

4:20 pm

Break

4:40 pm

Practitioner Panel
Moderator: Kevin J. Murphy, University of Southern California
Panelists:
Ira T. Kay, Pay Governance (background paper1) (background paper2)
Peter G. Reali, Nuveen Investments

5:40 pm

Adjourn

6:30 pm

Dinner, Royal Sonesta Hotel, Skyline Room AB