Compensation of Top Executives: Determinants and Consequences

October 9–10, 2025 — Cambridge, MA

Executive compensation practices at large companies attract attention from a range of perspectives. They shape the incentives of executives and can affect firm behavior, they are affected by the regulatory environment in which publicly-traded firms operate, they have been the subject of disclosure and corporate governance reforms, and they affect the income distribution. To better understand the determinants of compensation practices for top executives, and the consequences of different practices, the National Bureau of Economic Research (NBER), with the generous support of Norges Bank Investment Management, will convene a research conference on Thursday-Friday, October 9–10, 2025 in Cambridge, Massachusetts. The meeting will be organized by Dirk Jenter (London School of Economics) and Kelly Shue (Yale University and NBER).

Research on top executive compensation from various sub-fields of economics, including financial economics, industrial organization, labor economics, law and economics, and public finance, is welcome. Papers using new data sources or innovative research methods are especially welcome. Particular topics of interest include, but are not limited to:

  • The effects of CEO pay on firm performance and behavior
  • The relationship between CEO pay and the market for executive talent 
  • The role of institutional investors and other shareholders in setting CEO pay
  • Drivers of variation in CEO pay across time, firms, and countries
  • The optimal design of CEO pay contracts
  • The effects of regulation on CEO pay

The organizers welcome submissions of both empirical and theoretical research, including papers by scholars who are early in their careers and who are not NBER affiliates. To be considered for inclusion on the program, upload papers by 11:59pm ET on Monday, June 23, 2025.

Please do not submit papers that have been accepted for publication and that will be published by October 2025. Authors chosen to present papers will be notified in early July.  

The NBER will cover the travel costs of two authors per paper, subject to NBER travel reimbursement regulations. All additional authors are welcome to attend the conference at their own expense. Questions about this conference may be addressed to confer@nber.org.