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  4. Americanization as a driver of CEO pay in Europe: The moderating role of CEO power
 
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2018
Journal Article
Title

Americanization as a driver of CEO pay in Europe: The moderating role of CEO power

Abstract
This paper examines the relationship between Americanization and CEO pay levels in Europe and how this relationship is moderated by CEO power. Based on neo-institutional theory, our study provides empirical support for a link between Americanization and CEO pay levels. Drawing on a sample of large listed European firms, our results suggest that various dimensions of Americanization, i.e., Americanization of the CEO, of the firm and of the industry, can be associated with higher CEO pay. Combining neo-institutional approaches with managerial power perspectives, we show that Americanization can have an even stronger effect on pay when the CEO is powerful.
Author(s)
Schmid, Stefan  
Altfeld, Frederic
Dauth, Tobias  
Journal
Journal of world business  
DOI
10.1016/j.jwb.2017.12.002
Language
German
Fraunhofer-Zentrum für Internationales Management und Wissensökonomie IMW  
Keyword(s)
  • CEO compensation

  • CEO power

  • americanization

  • neo-institutional approach

  • managerial power theory

  • international diffusion of practice

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