Matos' study also shows that competitive international firms now offer CEO salary packages that are comparable to those from U.S. firms.
"Many of the non-U.S. firms vie for the same capital, customers and talent as U.S. firms that operate globally," Matos added. "We feel that our research presents grounds for critics to take a second look at U.S. CEO salaries."
Nuno Fernandes, professor of finance at IMD Business School; Miguel A. Ferreira, professor of finance at Nova School of Business and Economics; and Kevin J. Murphy, professor of finance at the University of Southern California, Marshall School of Business, were co-investigators for this project.
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