Researcher ORCID Identifier

Graduation Year


Date of Submission


Document Type

Campus Only Senior Thesis

Degree Name

Bachelor of Arts



Reader 1

Darren Filson

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2021 Andrew Y Kim


This thesis estimates the relationship between firm performance (Return on assets (ROA) and Return on Equity (ROE)) and the CEO’s compensation package, with a focus on Silicon Valley Technology firms. I regressed ROA and ROE on the CEO’s salary, total compensation, and stock options. I find that the CEO’s total compensation is positively linked with the firm’s performance. I also find there is a positive relationship between the firm’s performance and base salaries paid to the CEOs. Similarly, there is a positive relationship between stock options granted to CEOs and the firm's performance. I conclude that firm performance is positively related to total compensation, the CEOs' stock options awarded to the executives of technology firms.

This thesis is restricted to the Claremont Colleges current faculty, students, and staff.