Nonmonetary Benefits, Quality of Life, and Executive Compensation
研究发现，位于污染严重、犯罪率高或环境不佳地区的公司，需要向CEO支付更高薪酬作为生活质量补偿，且这一效应在竞争激烈、外部招聘或CEO有短期职业顾虑时更强。
Abstract We examine the effects of nonmonetary benefits on overall executive compensation from the perspective of the living environment at the firm headquarters. Companies in polluted, high crime rate, or otherwise unpleasant locations pay higher compensation to their chief executive officers (CEOs) than companies located in more livable locations. This premium in pay for quality of life is stronger when firms face tougher competition in the managerial labor market, when the CEO is hired from outside, and when the CEO has short-term career concerns. Overall, the geographic desirability of the corporate headquarters is an effective substitute for CEO monetary pay.