Changing Attitudes toward Executive Perquisites: Indications From TARP
Carrothers, A., and Yao, L. (2019). Changing attitudes toward executive perquisites: Indications from TARP. Journal of Business and Economics 10(2), 152-163. DOI:10.15341/jbe(2155-7950)/02.10.2019/005
23 Pages Posted: 27 Jan 2019 Last revised: 20 Oct 2019
Date Written: October 10, 2018
Abstract
This paper examines what happened to Chief Executive Officer (CEO) monetary and nonmonetary compensation at Standard & Poors (S&P) 500 firms in the years surrounding the 2008 financial crisis and in the context of the Troubled Asset Relief Program (TARP) legislation. We use novel data on executive perks at S&P 500 firms from 2006 to 2012. Overall, the results are consistent with lasting impact on nonmonetary compensation and temporary impact on monetary compensation.
Keywords: Perks, Perquisites, TARP, Executive Compensation
JEL Classification: C78, J33, G30
Suggested Citation: Suggested Citation