@article{gritsch_snyder_2011, 
  title={Do Profitable And Non-Profitable Firms Pay Executives Differently?}, 
  DOI={10.19030/jber.v4i6.2681}, 
  abstractNote={<jats:p>In the past decade, there has been a considerable increase in the use of stock options as a form of executive compensation. While agency theorists study the relationship between performance based pay and job productivity, they have not addressed whether executive compensation is impacted by a firm's profitability. Profitable firms may pay executives more incentive-based pay, to reward their managers for a good job. In contrast, non-profitable firms may be willing to pay executives more in the way stock options to attract better managers. We find that a CEO's probability of receiving stock options increases if he/she is employed by a profitable firm. However, the amount received by such a CEO is substantially less than the amount received by the average CEO at a non-profitable company.</jats:p>}, 
  publisher={Clute Institute}, 
  author={Gritsch and Snyder}, 
  year={2011}, 
  month={Feb}
  }