Are Ceos Superstars? the Deep Structure of Top Managerial Pay in New Zealand Listed Companies, 1995-2014.

Julie Harrison (University of Auckland)
Tim Hazledine (University of Auckland)
Paul Rouse (University of Auckland)

Abstract: ABSTRACT: A unique database on numbers and pay of all employees earning more than $150,000/year in all New Zealand listed companies between 1995 and 2014 reveals substantive similarities in the determinants of pay of the CEO and of the senior managers reporting to the CEO. The results are unsupportive of recent theories assuming CEO exceptionalism.