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Managerial Pay and Executive Turnover in the Czech and Slovak Republics

Author

Listed:
  • Eriksson, Tor

    (Department of Economics, Aarhus School of Business)

Abstract
Despite the crucial role played by managers in changing the functioning of labour markets in transition economies, research on the determinants of executive pay and CEO turnover in these countries is almost non-existent. The current paper aims at adding to this minuscule literature. For this purpose I make use of a unique data set containing relevant firm-manager information from the Czech and Slovak Republics in the late nineties. This allows me to examine the influence of individual and in particular firm characteristics, such as, size, ownership type, industry and region, as well as corporate performance on chief executive compensation levels and changes therein and on the probability of the executive being turned over.

Suggested Citation

  • Eriksson, Tor, 2003. "Managerial Pay and Executive Turnover in the Czech and Slovak Republics," Working Papers 03-3, University of Aarhus, Aarhus School of Business, Department of Economics.
    • Handle: RePEc:hhs:aareco:2003_003
    Note: Published in: Economics of Transition, 2005 (13), 659-677
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    File URL: http://www.hha.dk/nat/WPER/03-3_te.pdf
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    References listed on IDEAS

    as
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    16. Brian J. Hall & Jeffrey B. Liebman, 1998. "Are CEOs Really Paid Like Bureaucrats?," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 113(3), pages 653-691.
    17. Jones, Derek C. & Kato, Takao, 1996. "The determinants of chief executive compensation in transitional economies: Evidence from Bulgaria," Labour Economics, Elsevier, vol. 3(3), pages 319-336, October.
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    Cited by:

    1. Horie, Norio & Iwasaki, Ichiro & 岩﨑, 一郎, 2022. "Returns to Education in European Emerging Markets: A Meta-Analytic Review," RRC Working Paper Series 95, Russian Research Center, Institute of Economic Research, Hitotsubashi University.
    2. DIBRA, Rezart, 2013. "Corporate Governance In Various Transition Economies," Academica Science Journal, Economica Series, Dimitrie Cantemir University, Faculty of Economical Science, vol. 2(3), pages 21-33, December.
    3. Iwasaki, Ichiro & Ma, Xinxin & Mizobata, Satoshi, 2020. "Corporate ownership and managerial turnover in China and Eastern Europe: A comparative meta-analysis," Journal of Economics and Business, Elsevier, vol. 111(C).
    4. Muravyev, Alexander & Bilyk, Olga & Grechaniuk, Bogdana, 2009. "Firm Performance and Managerial Turnover: The Case of Ukraine," MPRA Paper 13685, University Library of Munich, Germany.
    5. Kato, Takao & Long, Cheryl, 2006. "CEO Turnover, Firm Performance and Enterprise Reform in China: Evidence from New Micro Data," IZA Discussion Papers 1914, Institute of Labor Economics (IZA).
    6. Norio Horie & Ichiro Iwasaki, 2023. "Returns to schooling in European emerging markets: a meta-analysis," Education Economics, Taylor & Francis Journals, vol. 31(1), pages 102-128, January.
    7. Štěpán Jurajda & Juraj Stančík, 2013. "Organization and Firm Performance in the Czech Republic," Prague Economic Papers, Prague University of Economics and Business, vol. 2013(1), pages 85-110.
    8. Sándor Gardó, 2010. "Bank Governance and Financial Stability in CESEE: A Review of the Literature," Focus on European Economic Integration, Oesterreichische Nationalbank (Austrian Central Bank), issue 1, pages 6-31.
    9. Kato, Takao & Long, Cheryl, 2006. "CEO turnover, firm performance, and enterprise reform in China: Evidence from micro data," Journal of Comparative Economics, Elsevier, vol. 34(4), pages 796-817, December.
    10. Horie, Norio & Kumo, Kazuhiro & 雲, 和広, 2019. "Socialist Legacies and Human Resource Management in European Transition Economies : An Analytical Survey," CEI Working Paper Series 2019-7, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University.
    11. Liang, Hao & Renneboog, Luc & Sun, Sunny Li, 2015. "The political determinants of executive compensation: Evidence from an emerging economy," Emerging Markets Review, Elsevier, vol. 25(C), pages 69-91.
    12. Stepan Jurajda & Teodora Paligorova, 2006. "Female Managers and Their Wages in Central Europe," CERGE-EI Working Papers wp296, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    13. Kato, Takao & Long, Cheryl, 2011. "Tournaments and managerial incentives in China's listed firms: New evidence," China Economic Review, Elsevier, vol. 22(1), pages 1-10, March.
    14. repec:onb:oenbwp:y:2010:i:1:b:1 is not listed on IDEAS
    15. Dragana Radjen & Nemanja Stanisic, 2017. "Financial Distress and Managerial Turnover: The Case of the Republic of Serbia," Prague Economic Papers, Prague University of Economics and Business, vol. 2017(6), pages 646-660.
    16. Aleksandra GregoriÄ & SaÅ¡o Polanec & Sergeja SlapniÄ ar, 2010. "Pay me Right: Reference Values and Executive Compensation," European Financial Management, European Financial Management Association, vol. 16(5), pages 778-804, November.
    17. Jurajda, Stepán & Paligorova, Teodora, 2009. "Czech female managers and their wages," Labour Economics, Elsevier, vol. 16(3), pages 342-351, June.
    18. Weiwen Li & Yuan Lu, 2012. "CEO dismissal, institutional development, and environmental dynamism," Asia Pacific Journal of Management, Springer, vol. 29(4), pages 1007-1026, December.
    19. repec:lic:licosd:22008 is not listed on IDEAS
    20. Horváthová, Eva, 2012. "The impact of environmental performance on firm performance: Short-term costs and long-term benefits?," Ecological Economics, Elsevier, vol. 84(C), pages 91-97.
    21. repec:prg:jnlpep:v:preprint:id:628:p:1-15 is not listed on IDEAS
    22. Kato, Takao & Kubo, Katsuyuki, 2006. "CEO compensation and firm performance in Japan: Evidence from new panel data on individual CEO pay," Journal of the Japanese and International Economies, Elsevier, vol. 20(1), pages 1-19, March.
    23. Rajashik Roy Choudhury & Varun Gupta, 2011. "Impact of Age on Pay Satisfaction and Job Satisfaction Leading to Turnover Intention: A Study of Young Working Professionals in India," Management and Labour Studies, XLRI Jamshedpur, School of Business Management & Human Resources, vol. 36(4), pages 353-363, November.

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    More about this item

    Keywords

    Managerial Compensation; CEO Turnover; Corporate Performance;
    All these keywords.

    JEL classification:

    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
    • J44 - Labor and Demographic Economics - - Particular Labor Markets - - - Professional Labor Markets and Occupations
    • M52 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Compensation and Compensation Methods and Their Effects
    • P31 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions

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