DETERMINANTS OF FACULTY PAY - AN AGENCY THEORY PERSPECTIVE

This study tested 12 hypotheses on the determinants of faculty pay using an agency theory perspective. The sample consisted of 353 professors of management. Data were collected from survey responses, curricula vitae, and the Social Science Citation Index. Results show that the primary determinants of faculty pay, in both institutions that grant doctorates and those that do not, are the number of top-tier journal publications a faculty member has authored and changes in institutional affiliation. Teaching performance and numbers of citations, second-tier publications, and books published affect pay allocations only for faculty members who have exceptional research records.