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Corporate governance; chief executive officer compensation; and firm performance 1 The financial support of Nomura Securities and Ernst & Young LLP is gratefully acknowledged. We appreciate the able research assistance of Dan Nunn. We acknowledge the helpful comments of Abbie Smith (the referee); Kevin Murphy; and workshop participants at Columbia University; the University of California – Los Angeles; the University of Colorado – Boulder; Harv.[J].John E. Core;Robert W. Holthausen;David F. Larc

