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Correction to: Does CEO (over)compensation influence corporate reputation?

  • Ann-Christine Schulz
  • Miriam Flickinger
Publisher Correction
  • 70 Downloads

1 Correction to: Review of Managerial Science  https://doi.org/10.1007/s11846-018-0305-0

In Table 2, the complete details of “column of Model 2, Model 2a, Model 2b, Model 2c” were inadvertently omitted, while structuring the table. Hence, the original version of this article contained an incomplete table. The complete Table 2 and its reference should read as follows:
Table 2

Results of GLS regression of corporate reputationa,b

Variables

Base model

Model 1

Model 1a

Model 1b

Model 1c

Model 2

Model 2a

Model 2b

Model 2c

Firm size

0.29***

(0.04)

0.28***

(0.04)

0.29***

(0.04)

0.30***

(0.04)

0.30***

(0.04)

0.29***

(0.04)

0.29***

(0.04)

0.30***

(0.04)

0.30***

(0.04)

Average profitability

2.30***

(0.52)

2.28***

(0.52)

2.26***

(0.51)

2.13***

(0.53)

2.17***

(0.54)

2.25***

(0.52)

2.19***

(0.52)

1.93***

(0.53)

2.16***

(0.55)

Average sales growth

− 0.13**

(0.06)

− 0.13**

(0.06)

− 0.13**

(0.06)

− 0.12**

(0.06)

− 0.18***

(0.06)

− 0.13**

(0.06)

− 0.15***

(0.05)

− 0.11*

(0.06)

− 0.18***

(0.06)

Profitability change (t, t − 1)

0.03***

(0.01)

0.03***

(0.01)

0.03***

(0.01)

0.03***

(0.01)

0.03***

(0.01)

0.03***

(0.01)

0.03***

(0.01)

0.03***

(0.01)

0.03***

(0.01)

Profitability change (t − 1, t − 2)

0.00

(0.01)

0.00

(0.01)

0.00

(0.01)

0.00

(0.01)

0.01

(0.01)

0.00

(0.01)

0.00

(0.01)

0.01

(0.01)

0.01

(0.01)

Market value change (t, t − 1)

0.09**

(0.04)

0.09**

(0.04)

0.09**

(0.04)

0.03

(0.05)

0.09**

(0.05)

0.08*

(0.04)

0.08*

(0.04)

0.01

(0.05)

0.09**

(0.05)

Market value change (t − 1, t − 2)

0.11***

(0.04)

0.11***

(0.04)

0.11***

(0.04)

0.09**

(0.04)

0.13***

(0.04)

0.10**

(0.04)

0.11***

(0.04)

0.08*

(0.04)

0.12***

(0.04)

Total shareholder return

0.04

(0.03)

0.04

(0.03)

0.04

(0.03)

0.05

(0.04)

0.04

(0.03)

0.04

(0.03)

0.04

(0.03)

0.05

(0.04)

0.04

(0.03)

Tobin’s Q

0.23***

(0.03)

0.23***

(0.03)

0.23***

(0.03)

0.27***

(0.03)

0.23***

(0.04)

0.24***

(0.03)

0.25***

(0.03)

0.28***

(0.03)

0.24***

(0.04)

Firm leverage

− 1.14***

(0.26)

− 1.13***

(0.26)

− 1.14***

(0.26)

− 1.28***

(0.26)

− 1.07***

(0.27)

− 1.13***

(0.26)

− 1.14***

(0.26)

− 1.29***

(0.26)

− 1.05***

(0.27)

Firm risk

− 0.53***

(0.11)

− 0.55***

(0.11)

− 0.55***

(0.11)

− 0.50***

(0.11)

− 0.51***

(0.11)

− 0.54***

(0.11)

− 0.52***

(0.11)

− 0.47***

(0.11)

− 0.49***

(0.11)

CEO excess compensation

 

0.02*

(0.01)

0.02*

(0.01)

0.02

(0.01)

0.02*

(0.01)

    

CEO excess stock option pay

     

− 0.02**

(0.01)

− 0.01

(0.01)

− 0.02**

(0.01)

− 0.01

(0.01)

CEO excess compensation x CEO change

  

− 0.02

(0.03)

      

CEO change

  

− 0.04

(0.03)

   

− 0.05

(0.03)

  

CEO excess compensation x

   

0.00

(0.01)

     

CEO tenure

        

CEO tenure

   

− 0.01

(0.02)

   

− 0.01

(0.02)

 

CEO excess compensation x

    

0.00

(0.00)

    

CEO age

        

CEO age

    

0.00

(0.00)

   

0.00

(0.00)

CEO excess stock option pay x CEO change

      

− 0.04**

(0.02)

  

CEO excess stock option pay x

       

0.02**

(0.01)

 

CEO tenure

        

CEO excess stock option pay x

        

− 0.00

(0.00)

CEO age

        

Constant

2.85***

(0.52)

2.76***

(0.52)

2.76***

(0.52)

2.81***

(0.53)

2.68***

(0.54)

2.81***

(0.53)

2.81***

(0.51)

2.88***

(0.53)

2.71***

(0.54)

n = 874; *p < 0.10; **p < 0.05; ***p < 0.01

aAll regression models also include year and industry dummy variables

bStandard errors are reported in parentheses

Reference

  1. Schulz AC, Flickinger M (2018) Does CEO (over)compensation influence corporate reputation? Rev Manag Sci.  https://doi.org/10.1007/s11846-018-0305-0 CrossRefGoogle Scholar

Copyright information

© Springer-Verlag GmbH Germany, part of Springer Nature 2019

Authors and Affiliations

  1. 1.University of Applied Sciences for Management and Communication (FH Wien der WKW)ViennaAustria
  2. 2.Department of ManagementAarhus UniversityAarhus VDenmark

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