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This paper examines the SEC regulation requiring non-binding general shareholder vote on executive compensation–“say-on-pay” (SOP). We examine the first two years of SOP in the Russell 3000. The results confirm previous shareholder-proposal studies by finding that SOP approval (reject)...
Persistent link: https://www.econbiz.de/10013036020
In March 2010, Japanese regulators implemented the country's first legislation concerning the disclosure of director compensation for named individuals. Using the first publicly available data for Japanese executives, we document direct evidence on the level, structure, and mechanisms of CEO...
Persistent link: https://www.econbiz.de/10012917053
Persistent link: https://www.econbiz.de/10011457847
of executive incentives. We compare pay in U.S. public firms to private and non-U.S. firms. We then critically analyze …
Persistent link: https://www.econbiz.de/10011700396
-based compensation or salary. These findings suggest that when a CEO’s departure is anticipated, firms increase bonus pay incentives for … a CEO’s effort based on the firm’s concurrent performance to compensate for the reduction in the incentives that rely on …
Persistent link: https://www.econbiz.de/10014353254
We study corporate philanthropy using an original database that includes firm-level data on dollar giving, giving priorities, governance, and managerial involvement in giving programs. Results provide some support for the theory that giving enhances shareholder value, as firms in the same...
Persistent link: https://www.econbiz.de/10003287142
corporate boards to reduce the risk-taking incentives of CEO compensation. However, this pattern is not uniform. Financially … resurrection" strategy. Moreover, the strength of corporate governance influences shareholders' capacity to align executive … incentives with changing shareholder risk preferences …
Persistent link: https://www.econbiz.de/10014635626
shareholders with a regular vote on executive pay. We apply a regression discontinuity design to the votes on shareholder …
Persistent link: https://www.econbiz.de/10010414206
This paper aims to discover evidence on the possible impact of CEO overconfidence on payout policy, and the role of corporate boards in offsetting the possible negative effects of this overconfidence. Our investigation demonstrates the effect of overconfidence on the choice of payout method,...
Persistent link: https://www.econbiz.de/10012830148