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A CEO's pay rose by thirty percent from 2 0 0 1 to 2 0 0 2 , even though her firm's ROA fell by

A CEO's pay rose by thirty percent from 2001 to 2002, even though her firm's ROA fell by five percent and her firm's stock return fell by 12 percen over this period. Provide at least two major reasons why these facts may NOT provide evidence that the CEO was overpaid over this period.
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