@inbook {588846, title = {Executive Compensation: A Survey of Theory and Evidence}, booktitle = {Handbook of the Economics of Corporate Governance, Chapter 9}, number = {4}, year = {2017}, pages = {383-539}, abstract = { Survey paper on executive compensation, containing (1) Data on CEO and other top executive pay over time and across firms, including private firms and non-US firms. (2) Critical analysis of three explanations for the drivers of pay: shareholder value maximization (including a simple unifying model), rent extraction, institutional influences. (3) The {\textquotedblleft}effects{\textquotedblright} of executive pay and challenges in causal identification. (4) Directions for future research. }, url = {https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2992287}, author = {Edmans, A and X. Gabaix and Jenter, D} }