From tech and transport to hotels and media, chief executives in almost every industry across the US proclaimed they would take a pay cut during the economically tumultuous times of the pandemic.
But new research has shed light on why many of those cuts might have been better called "redistributions".
Researchers from the University of Melbourne, University of Sydney, and University of New South Wales examined the changes to chief executive (CEO) compensation between 2019 and 2020 and found evidence that some shifted their remuneration under the guise of a pay cut.