EXPERIENCES, CREDENTIALS, AND COMPENSATION IN THE JAPANESE AND UNITED-STATES MANAGERIAL LABOR-MARKETS - EVIDENCE FROM NEW MICRO DATA

This paper provides the first systematic evidence on the determinants of chief executive compensation of Japanese and U.S. corporations. To do so we first integrate data from diverse sources to develop rich new micro data containing information on chief executives of 599 leading corporations in Japan and 506 in the United States. A standard earnings regression framework in the literature is used to analyze the data and to present new findings, including a number of interesting differences and similarities in the structure of executive compensation in the two nations. © 1992.