Research: Whistleblowing Is More Common When CEOs Are Overpaid

by Riki Takeuchi, Cuili Qian, Yilin Liu and Junfeng Wu

March 6, 2025

HBR Staff; Peter Dazeley/Getty Images; AI

Summary.

In 2021, the average CEO at one of the top 350 firms in the U.S. was paid $27.8 million—a rate that skyrocketed by an astonishing 1,460% since 1978. During this same period, the average worker’s pay grew by just a meager 18.1%.

Riki Takeuchi is a Dr. Joseph Picken Distinguished Professor in Innovation and Entrepreneurship at Naveen Jindal School of Management. He is an elected fellow of American Psychological Association, Association for Psychological Science, and Society for Industrial and Organizational Psychology. He is a recipient of Early Career Contribution Award from SIOP in 2010. His current research revolves around strategic human resource management/human capital, international/cross-cultural adjustment, and social exchange relationships at work.

Cuili Qian is a Professor of Organizations, Strategy, and International Management at University of Texas at Dallas. Her research interests include stakeholder management and corporate social responsibility, corporate governance, MNC control and staffing issues in international business. Her work has been published in management journals such as Strategic Management Journal, Organization Science, Academy of Management Journal, and Journal of Management.

Yilin Liu is a Ph.D. candidate in International Management Studies at the University of Texas at Dallas. Her research interests include stakeholder management, corporate social responsibility, and corporate governance. Her work has been published in management journals such as Strategic Management Journal and Journal of Management.

Junfeng Wu is an Associate Professor of Management at the University of Texas at Dallas. His research focuses on leadership and employee creativity in the workplace. His work has been published in management journals such as the Journal of Applied Psychology, Journal of Management, and Strategic Management Journal. He currently serves on the editorial review board of the Journal of Applied Psychology and Personnel Psychology.

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Research: Whistleblowing Is More Common When CEOs Are Overpaid

Summary.

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