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

See all articles by Andrew Glen Carrothers

Andrew Glen Carrothers

University of Prince Edward Island; CFA Institute - United States office

Liufang Yao

University of Prince Edward Island

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

Carrothers, Andrew Glen and Yao, Liufang, Changing Attitudes toward Executive Perquisites: Indications From TARP (October 10, 2018). 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, Available at SSRN: https://ssrn.com/abstract=3314863 or http://dx.doi.org/10.2139/ssrn.3314863

Andrew Glen Carrothers (Contact Author)

University of Prince Edward Island ( email )

550 University Avenue
Room 417 McDougall Hall
Charlottetown, Prince Edward Island C1A 4P3
Canada
9026205078 (Phone)

CFA Institute - United States office ( email )

P.O. Box 3668
915 East High Street
Charlottesville, VA 22902
United States

Liufang Yao

University of Prince Edward Island

Charlottetown, P.E.I. C1A 4P3
Canada

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