CEOs Are Overpaid for Luck, Economist Bertrand Says

Aug. 22 (Bloomberg) -- Marianne Bertrand, a professor at the University of Chicago's Booth School of Business, talks with Bloomberg's Steve Matthews about her research into the compensation of chief executive officers. In a 2001 paper based on her work as a Ph.D. candidate at Harvard University, the 43-year-old labor economist documented that CEOs at U.S. oil companies got raises when their company’s fortunes improved because of changes in global oil prices beyond their control. (Source: Bloomberg)

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