@article {Kim:2010:0003-6846:2999,
	author = "Kim, Doyoung",
	title = "The use of stock-based pay for sorting: an empirical analysis of compensation for new CEOs",
	journal = "Applied Economics",
	volume = "42",
	number = "23",
	year = "2010",
	abstract = "Examining stock-based compensation for newly hired CEOs, this article finds that the sensitivity of stock-based pay to performance is higher for new economy, young and volatile firms. Of the components of stock-based pay, it is option grants that generate such variation across firms. It also finds that this cross-firm variation in pay-performance sensitivity is more pronounced for the CEO's first year in office. These findings support the view that firms use stock-based pay to new CEOs for sorting.",
	pages = "2999-3010",
	url = "http://www.ingentaconnect.com/content/routledg/raef/2010/00000042/00000023/art00007",
	doi = "doi:10.1080/00036840801964807"
}