CFO; CEO-Pay-Slice; top management team; executive pay; corporate governance
APPLIED ECONOMICS LETTERS, v. 25, no. 6, page. 405-408
Does the rise of the CFO as the second-ranked executive increase the status of the CEO? We find that, as a CFO becomes #2, a CEO receives higher pay in relative terms compared with other top executives. This result corresponds to the literature on span-of-control of executives in top management team.