Entrepreneurial rewards and economic performance: an empirical study of the best small companies

Jooh Lee, Harold W. Lucius, Steven A. McNeil

Research output: Contribution to journalArticlepeer-review

2 Scopus citations


This study attempts to examine a different spectrum of CEO compensation and economic performance in small- and medium- sized firms in America. Particularly, this study explores the directions and magnitudes of the relationships between compensation variables (cash-based short-term vs. long-term compensation) and economic performance (accounting- and market-based performance) after controlling for other interacting factors like CEO tenure, CEO stock ownership, and industry type. The researchers find that CEOs compensation in small- and medium-sized firms, in different types of industries, is positively linked to those firms' economic performance, particularly with respect to market-based performance. With respect to the control variables, only the CEO's stock ownership shows a significantly positive sign in determining the CEO's compensation.

Original languageEnglish (US)
Pages (from-to)728-743
Number of pages16
JournalUnknown Journal
Issue number7
StatePublished - 1999

All Science Journal Classification (ASJC) codes

  • Industrial relations
  • General Engineering
  • Computer Science Applications
  • Strategy and Management
  • Law


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