The DOI matches its Crossref record; 79 of the 79 references it cites were found in a registry or an index.
Does social capital mitigate agency problems? Evidence from Chief Executive Officer (CEO) compensation
Open accessAbstract
We find that social capital, as captured by secular norms and social networks surrounding corporate headquarters, is negatively associated with levels of CEO compensation. This relation holds in a range of robustness tests including those that address omitted variable bias and reverse causality. Additionally, social capital reduces the likelihood that firms make opportunistic option grant awards that unduly favor CEOs, including lucky awards, backdated awards, and unscheduled awards. Social capital also lessens the accretive effect of CEO power on CEO compensation. These findings indicate that social capital mitigates agency problems by restraining managerial rent extraction in CEO compensation.
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Cites
Bowling alone: the collapse and revival of American community
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Social Capital in the Creation of Human Capital
COLEMAN, J. (2000) · Knowledge and Social Capital · doi:10.1016/b978-0-7506-7222-1.50005-2 · Cited by 21,666
Does Social Capital Have an Economic Payoff? A Cross-Country Investigation
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SOME PRACTICAL GUIDANCE FOR THE IMPLEMENTATION OF PROPENSITY SCORE MATCHING
Caliendo, M., & Kopeinig, S. (2008) · Journal of Economic Surveys · doi:10.1111/j.1467-6419.2007.00527.x · Cited by 6,238
Corporate Governance and Equity Prices
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Social capital and economic development: Toward a theoretical synthesis and policy framework
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The Prosperous Community: Social Capital and Public Life
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Metadata
- Authors
- Hoi, C. K., Wu, Q., & Zhang, H.
- Venue
- Journal of Financial Economics
- Publisher
- Elsevier BV
- Published
- 2019-08
- Volume
- 133
- Issue
- 2
- Pages
- 498-519
- ISSN
- 0304-405X (ISSN-L)
- OpenAlex
- W2901817518
- Cited by
- 322
- References
- 79
- FWCI
- 69.85
- Type
- journal article
- Language
- en
- Open access
- bronze
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- Hoi, C. K., Wu, Q., & Zhang, H. (2019). Does social capital mitigate agency problems? Evidence from Chief Executive Officer (CEO) compensation. Journal of Financial Economics. https://doi.org/10.1016/j.jfineco.2019.02.009
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