Wu, Ming-Cheng; Chen, Yu-Ju; Shih, Bi-Ying - In: International Journal of Economic Sciences 2014 (2014) 3, pp. 86-102
This paper documents an association between firms’ cash holdings and CEO’s pay performance sensitivity. Controlling … firms with more cash holdings are more likely to constrain executives’ pay-performance sensitivity than firms with less cash … holdings do. Empirical evidence also shows a increasing pay-performance sensitivity after adopting IFRS in China. The changes …