Carola Frydman

Harold L. Stuart Professor of Finance

Kellogg School of Management, Northwestern University
2211 Campus Drive, Global Hub 4383, Evanston IL, 60208

Email | CV | Google Scholar

Working Papers

1. Political Discretion and Antitrust Policy: Evidence from the Assassination of President McKinley (with Richard B. Baker and Eric Hilt)

[Paper]

Publications

1. Executive Compensation: A New View from a Long-Term Perspective, 1936-2005 (with Raven Saks)

Review of Financial Studies 23 (May 2010): 2099-2138

[Paper] [Web Appendix] [Data] [Micro-level Data]

2. Does Tax Policy Affect Executive Compensation? Evidence from Postwar Tax Reforms (with Raven Molloy)

Journal of Public Economics 95 (December 2011): 1425-37

[Paper]

3. Pay Cuts for the Boss: Executive Compensation in the 1940s (joint with Raven Molloy)

Journal of Economic History 72 (March 2012): 225-251

[Paper]

4. Military CEOs (with Efraim Benmelech)

Journal of Financial Economics, July 2015, vol. 117(1): 43-59.

[Paper]

5. Economic Effects of Early `Shadow Banks': Trust Companies and the Panic of 1907 (joint with Eric Hilt and Lily Y. Zhou)

Journal of Political Economy, August 2015, vol. 123(4): 902-40.

[Paper]

6. Rising Through the Ranks: The Evolution of the Market for Corporate Executives, 1936-2003

Management Science, November 2019, vol. 65(11)

[Paper]

7. Investment Banks as Corporate Monitors in the Early 20th Century (joint with Eric Hilt)

American Economic Review, July 2017, vol. 107(7): 1938-70

[Paper] [Web Appendix]

8. In Search of Ideas: Technological Innovation and Executive Pay Inequality (with Dimitris Papanikolaou)

Journal of Financial Economics, 2018, vol. 130(1), 1-24

[Paper] [Web Appendix] [Non-technical Summary]

9. Financial Frictions and Employment during the Great Depression (with Efraim Benmelech and Dimitris Papanikolaou)

Journal of Financial Economics, 2019, vol. 133(3), 541-563

[Paper] [Web Appendix]

Other Publications

1. Learning from the Past: Trends in Executive Compensation over the Twentieth Century

CESifo Economic Studies 55 (2009): 458-481

[Paper]

2. CEO Compensation (joint with Dirk Jenter)

Annual Review of Financial Economics 2 (December 2010): 75-102

[Paper]

3. Executive Compensation in American Economic History

Oxford Handbook of American Economic History, Lou Cain, Price Fishback and Paul Rhode, eds., forthcoming

[Chapter]

Edited Books and Reviews

1. The Speculation Economy: How Finance Triumphed Over Industry, by Lawrence E. Mitchell. San Francisco: Berrett-Koehler Publishers, Inc., 2008.

Journal of Economic History 68(2) (2008): 637-38

2. The Creative Society-And the Price Americans Paid for it, by Louis Galambos. New York, NY: Cambridge University Press, 2011.

Journal of Economic History 72(4) (2011): 1006-08

3. Comments on "Executive Compensation and Corporate Governance in the U.S.: Perceptions, Facts and Challenges" by Steven N. Kaplan.

Cato Papers on Public Policy vol. 2 (2012): 151-57

4. Human Capital in History: The American Record (co-edited with Leah P. Boustan and Robert Margo).

University of Chicago Press, 2014.

[Introduction] [Book]

5. Harriman vs. Hill: Wall Street's Great Railroad War, by Larry Haeg. Minneapolis: University of Minnesota Press, 2013.

Journal of Economic History 75(1) (2015): 295-97

Media Visibility

For a full list of my media cites, please see here.