CEO compensation and operational risk
by Khalid Al-Amri
International Journal of Business Innovation and Research (IJBIR), Vol. 12, No. 4, 2017

Abstract: This study examines the impact of operational risk on CEO compensation in the property-liability insurance industry. We find that property-liability CEOs are not penalised for operational risk in terms of cash-based compensation, while they are penalised in terms of their option-based compensation. Our findings also suggest that CEOs are largely insulated from firm level operational losses in terms of their total compensation. These findings have implications for implementing optimal risk-based contracting decisions for CEO compensation contracts.

Online publication date: Mon, 13-Mar-2017

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