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We document that executives working at firms perceived negatively in light of social norms, such as tobacco, gambling and alcohol, earn a significant compensation premium. The premium compensates for personal costs executives bear due to their employer's negative public perception and include: (i) a reduced likelihood these CEOs will serve as directors on other firms' boards, which associates with lower executives' social status, and (ii) impaired job mobility as employers shun stigmatized executives. The compensation premium is not explained by higher managerial skill required in firms we investigate, higher employment contract risk, political capital, litigation risk, or differences in corporate governance quality, and robust to endogeneity concerns. Our results highlight the significant impact job-related social stigma has on executive compensation.

The paper deals with the significant results of the experimental research of current harmonic spectrum of traction drive with permanent magnet synchronous motor. The experiments were done on a special workplace with a real traction drive for wheel vehicles. Current harmonic spectrum was analyzed by a specialized device on the base of central measuring station. The knowledge of current marked subharmonic components of stator winding is the most significant finding of experiments. The frequencies of these components are given by multiples of frequency of mechanical speeds. The subharmonic components also pass to input DC current of drive. This fact is important in particular from the point of view of legislative requirements to electromagnetic compatibility of drive with railway interlocking devices.