關鍵字：恐怖攻擊、經理人薪資、管理能力 ;This study examines the interrelation between terrorist attacks, CEO general managerial ability, and executive compensation. The threat of terrorist attacks has increasingly impacted society and business operations, leading to complex challenges for corporate executives. Using a sample of terrorist attacks in the U.S. from 1992 to 2016, the results show a significant positive relationship between the interaction of terrorist attacks and general managerial ability with CEO pay. CEOs classified as generalists working at firms affected by terrorist attacks earn a post-attack premium of 17.35%. The composition of compensation also changes, CEOs with higher level of general managerial skills seem to receive premium on executive’s Salary, Cash Pay, Option Value, LTIP Value, and Equity Pay. While we did not find statistically significant result in the terrorist attack combined with CEO general managerial ability influences on CEO pay sensitivity. This research fills a gap in the literature by exploring the combined impact of terrorist attacks, CEO general managerial ability, and compensation. The findings provide insights how CEOs are rewarded and incentivized during crises.
Keywords: Terrorist Attacks, General Managerial Ability, CEO Compensation
