Is CEO pay in high-technology firms related to innovation?

David B. Balkin, Gideon D. Markman, Luis Gomez-Mejia

Research output: Contribution to journalArticlepeer-review

399 Scopus citations


This study uses the resource-based view of the firm and agency theory to examine the relationship between innovation and CEO pay in 90 high-technology firms. With firm size, performance, and other factors controlled, CEO short-term compensation was related to innovation as measured by number of patents and R&D spending. The data also suggest a less consistent temporal relationship between innovation and long-term CEO compensation in the high-technology firms. In a control sample of 74 low-technology firms, there was no relationship between innovation and either short-or long-term CEO pay.

Original languageEnglish (US)
Pages (from-to)1118-1129
Number of pages12
JournalAcademy of Management Journal
Issue number5
StatePublished - 2000

ASJC Scopus subject areas

  • Business and International Management
  • Business, Management and Accounting(all)
  • Strategy and Management
  • Management of Technology and Innovation


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