Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/81267
Authors: 
Oxelheim, Lars
Randøy, Trond
Year of Publication: 
2004
Series/Report no.: 
IUI Working Paper 611
Abstract: 
This study examines the relation between the internationalization of firms and CEO compensation. Starting from a sample of Norwegian and Swedish listed firms we analyze the effects of internationalization as manifest in the capital market (international cross-listing), the market for corporate control (foreign board membership), and the product and service market (export and foreign sales). We conclude that all three markets contribute positively to the compensation level of CEOs. We argue that part of the higher CEO compensation in internationally oriented firms - as compared to less internationalized firms within the same country - reflects a risk premium for reduction in job security.
Subjects: 
CEO Compensation
Internationalization
Corporate Governance
CEO Tenure
Cross-Listing
Foreign Board Membership
JEL: 
G34
K12
M10
M12
Document Type: 
Working Paper

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