Cheung, Yan-Leung; Stouraitis, Aris; Wong, Anita - Hong Kong Institute for Monetary Research (HKIMR), … - 2003
Owners-managers of closely held firms effectively decide on the level of their own compensation. We test the relationship between ownership concentration and executive compensation, using panel data for a sample of 412 Hong Kong firms during 1995-1998. We find a positive relationship between...