ARTÍCULO
TITULO

Optimal incentive-based compensation contracts for CEOs: The moderating roles of age and tenure

Joshua R. Aaron    
Amy McMillan    
Timothy C. Dunne    

Resumen

This study examines the relationship between CEO compensation packages and firm performance. We suggest that CEO age and tenure moderate the relationship between the aforementioned variables. Our results indicate that younger and newly minted CEOs perform better with greater proportions of incentive-based compensation than their older and longer tenured counterparts.  These findings suggest CEOs respond differently to different compensation packages. Therefore, firms should evaluate the characteristics of their CEOs prior to designing the compensation package.   

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