Ceo Salaries

In: Business and Management

Submitted By denisekingston14
Words 256
Pages 2
Model Specification
This research paper will use a series of hypothesis testing and simple regression analyses to determine which variable is most explanatory and ultimately which ones give a higher correlation. The multivariate regression model used to test is given as the equation listed below. This equation lists all the variables used.
CEOSalary=b_0+β_1 〖lnFirm Revenue〗_1+β_2 〖Age〗_2+β_3 Education+β_4 Ethnicity+ε
In testing the possible relationships between large compensations for executives of firms, the firm’s total revenue was looked at to determine if any correlation existed. It is expected that there will be a positive relationship between a firm’s total revenue and that of its chief executive officer.
The ages of the CEOs were also looked at as it is assumed that with age comes a greater knowledge and experience foundation. The age of each CEO was also squared to determine if a larger age will give a greater outcome.
The variable of education was given a dummy variable. A number one (1) was assigned to every executive with a graduate degree or higher and everyone else was given a zero (0). It is expected that a higher degree would have a higher correlation between a CEO’s compensation.
Finally the ethnicity of the executive was looked at. This variable was also given dummy variable numbers. For Caucasians we assigned a number one (1), all other ethnicities were assigned a zero (0). The impact of ethnicity was not expected to be positive.
The variables that were chosen were…...

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