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inconsistent with the hypothesis, emphasised in the recent literature on the USA, that large owners are a complement to, rather …
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which managers could become entrenched, they already bear a large proportion of the costs and have therefore an incentive to …
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This paper investigates the impact of family control and institutional investors on CEO pay packages in Continental Europe, using a large data set of 915 listed firms with 4,045 firm-year observations from 14 countries over the period 2001-2008. We find that family control curbs the level of CEO...
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This paper investigates the impact of family control and institutional investors on CEO pay packages in Continental Europe, using a dataset of 754 listed firms with 3,731 firm-year observations from 14 countries during 2001-2008. We find that family control curbs the level of CEO total and cash...
Persistent link: https://www.econbiz.de/10013116246
effect), for higher shares the effect becomes negative entrenchment effect). Moreover, risk-aversion of managers and …
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