Date of Award


Degree Name

Doctor of Philosophy


Business Administration


Adam Esplin


This paper examines the effect that local religiosity has on executive compensation tournaments. The main finding suggests that a higher degree of local religiosity significantly reduces the magnitude of executive compensation tournaments. Subsample analyses involving the majority religious group of Christianity show that a higher local presence of Protestants relative to Catholics and other non-religious population heightens the negative effect of community-level religiosity on the magnitude of executive compensation tournaments. Additional subsample analyses involving the minority religious denominations also show that the effect of overall community religiosity is not solely driven by the different sects within the Christian denomination. Minority religious denominations as a composite group also appear to have a reasonably strong influence on reducing the magnitude of executive compensation tournaments similar to the Christian denomination. The main findings hold across multiple robustness tests and suggest that community religiosity is an essential determinant of executive compensation tournaments' magnitude. Overall, the study attests to the positive value implications of religiosity on the equitable and fair distribution of wealth and other organizational or institutional resources.




Received from ProQuest

File Size

98 p.

File Format


Rights Holder

Toufiq Nazrul

Available for download on Saturday, May 23, 2026

Included in

Accounting Commons