Business, Management and Accounting
4 years ago

CEO's power does not drive compensation, market forces determine pay.

European Business & Management
Influence of CEOs Power on Their Compensation
Omamo Anne, Peter K’Obonyo, Florence Muind Florence Muind

Paper Summary

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CEOs in Kenya firms listed at the Nairobi Securities Exchange do not receive higher compensation based on their power within the company. Instead, CEO pay is determined by market forces and reflects the competition for talented executives. The increase in CEO pay is mainly due to incentive compensation tied to firm performance, aligning managers' interests with shareholders'.