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The impact of the characteristics of the board of directors on the financial performance of Tunisian companies
Zied, Bouaziz; Mohamed, Triki - In: International Journal of Managerial and Financial Accounting 5 (2013) 2, pp. 178-201
The board of directors plays a key role as an internal mechanism of corporate governance. Indeed, its effectiveness is dependent on the presence of several factors, the most important are related to characteristics that relate primarily to the independence of its members, board size, the...
Persistent link: https://www.econbiz.de/10010669561
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CEO Turnover, Firm Performance and Enterprise Reform in China: Evidence from New Micro Data
Kato, Takao; Long, Cheryl - Institute for the Study of Labor (IZA) - 2006
Using comprehensive financial and accounting data on China’s listed firms from 1998 to 2002, augmented by unique data on CEO turnover, ownership structure and board characteristics, we estimate Logit models of CEO turnover. We find consistently for all performance measures including both stock...
Persistent link: https://www.econbiz.de/10005566546
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Executive Compensation as an Agency Problem
Bebchuk, Lucian Arye; Fried, Jesse - C.E.P.R. Discussion Papers - 2003
instrument for addressing the agency problem between managers and shareholders but also as part of the agency problem itself … managers. As a result, managers wield substantial influence over their own pay arrangements, and they have an interest in … reducing the saliency of the amount of their pay and the extent to which that pay is de-coupled from managers’ performance. We …
Persistent link: https://www.econbiz.de/10005662270
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Managerial Power and Rent Extraction in the Design of Executive Compensation
Bebchuk, Lucian Arye; Fried, Jesse; Walker, David I - C.E.P.R. Discussion Papers - 2002
constraints that act on these processes, leave managers with considerable power to shape their own pay arrangements. Examining the …
Persistent link: https://www.econbiz.de/10005114260
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Stealth compensation: Do CEOs increase their pay by influencing dividend policy?
Minnick, Kristina; Rosenthal, Leonard - In: Journal of Corporate Finance 25 (2014) C, pp. 435-454
Companies can increase executive compensation by allowing dividends to be paid on unvested restricted stocks grants, also known as stealth compensation. Examining all S&P 500 firms over the period 2003–2007, we find that more than half of the dividend paying firms allow this practice. We look...
Persistent link: https://www.econbiz.de/10010753523
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What Do We Know About China's CEO's? Evidence from Across the Whole Economy
Bryson, Alex; Forth, John; Zhou, Minghai - Centre for Economic Performance, LSE - 2012
All that we know about the CEO labour market in China comes from studies of public listed companies and state-owned enterprises (SOEs). This paper is the first to examine the operation of the CEO labour market across all sectors of the Chinese economy. We do so using World Bank enterprise data...
Persistent link: https://www.econbiz.de/10010700445
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Corporate Governance and the Uncertain Role of Interlocking Directorates:Director Networks in Germany and their Impact on Financial Performance
Prinz, Enrico - Université de Bourgogne - CREGO EA7317 Centre de … - 2006
This article deals with interlocking directorates and the increasing attention this topic has been attracting in recent years. Financial theory tends to regard the subject of directorship interlocks generally negative, even if theoretical argumentation also allows speaking favoura-bly of the...
Persistent link: https://www.econbiz.de/10005111270
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An Examination of Multiple Governance Forces within Bank Holding Companies
Sierra, Gregory; Talmor, Eli; Wallace, James - In: Journal of Financial Services Research 29 (2006) 2, pp. 105-123
Persistent link: https://www.econbiz.de/10005715942
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Executive Compensation, Firm Performance, and Chaebols in Korea: Evidence from New Panel Data
Kato, Takao; Kim, Woochan; Lee, Ju Ho - Institute for the Study of Labor (IZA) - 2005
This paper provides the first rigorous econometric estimates on the pay-performance relations for executives of Korean firms with and without Chaebol affiliation. To do so, we have assembled for the first time panel data (that provide information not only on executive compensation and firm...
Persistent link: https://www.econbiz.de/10005822774
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What do we know about China's CEO's?: evidence from across the whole economy
Bryson, Alex; Zhou, Minghai - London School of Economics (LSE) - 2012
All that we know about the CEO labour market in China comes from studies of public listed companies and state-owned enterprises (SOEs). This paper is the first to examine the operation of the CEO labour market across all sectors of the Chinese economy. We do so using World Bank enterprise data...
Persistent link: https://www.econbiz.de/10010745536