Social capital at the top: Effects of social similarity and status on CEO compensation

  • Belliveau M
  • O'Reilly C
  • Wade J
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This study explored the effects of social capital, measured both abso -lutely and relatively, on CEO compensation in a sample of 61 CEO -compensation committee chairperson dyads. We controlled for vari -ables representing economic, social comparison, and other social influ -ence explanations for CEO compensation. Social similarity did no t influence pay, but a chair's absolute social capital and a CEO's socia l capital relative to his or her chair's significantly increased CEO com -pensation. The potential of social capital explanations to increase un -derstanding of the executive wage-setting process beyond that derive d from simple economic theories is discussed .

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  • Maura A. Belliveau

  • Charles A. O'Reilly

  • James B. Wade

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