Turning to financial incentives of the CEO, the presence of long-term compensation for the CEO was not associated with higher ROE (see Table 2). Mean ROE for corporations whose CEO received no long-term compensation was 14.38% (N = 141; SD = 11.05) and for corporations whose CEO received longterm compensation was 14.10% (N = 188; SD = 10.32), not significantly different. Thus, these incentive schemes for the CEO do not secure higher returns to shareholders.