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We investigate patterns of abnormal stock performance around insider trades and option exercises on the Dutch market. Listed firms in the Netherlands have a long tradition of employing many anti-shareholder mechanisms limiting shareholders rights. Our results imply that insider transactions are...
Persistent link: https://www.econbiz.de/10010494422
of engaging in insider trading to exploit their position. -- insider trading, management stock options ; timing by …
Persistent link: https://www.econbiz.de/10003986110
all cases, explicit, non-discretionary ESG incentives are economically insignificant relative to executives’ incentives to … companies, explicit, non-discretionary ESG incentives were incorporated only in annual bonus plans. One sample company – Duke …. While this approach could be seen as a roadmap for those seeking meaningful ESG-based pay incentives, this Article concludes …
Persistent link: https://www.econbiz.de/10013305552
We provide fresh evidence regarding the relation between compensation consultants and CEO pay. First, firms that employ consultants have higher-paid CEOs—this result is robust to firm fixed-effects and matching on economic and governance variables. Second, while this relation is partly due to...
Persistent link: https://www.econbiz.de/10011901860
Remuneration consultants are an integral part of the process of determining executive pay in large listed companies. This paper discusses the role of the consultants in the United Kingdom, United States and Canada, analyses their industry and the factors currently affecting it, and summarizes...
Persistent link: https://www.econbiz.de/10013128348
We document that firms whose compensation peers experience weak say on pay votes reduce CEO compensation following those votes. Reductions reflect proxy adviser concerns about peers' compensation contracts and are stronger when CEOs receive excess compensation, when they compete more closely...
Persistent link: https://www.econbiz.de/10012902356
distinct measure of equity compensation, is a determinant of shareholder voting for management sponsored equity plans and …
Persistent link: https://www.econbiz.de/10012903909
-binding SOP votes may provide shareholders with a mechanism to influence director incentives, and therefore, executive …
Persistent link: https://www.econbiz.de/10012943723
This paper (forthcoming in Research in International Business and Finance) examines the practice of employing multiple compensation consultants. Examining data of a sample of UK companies over the period 2003–2006 we find that CEOs receive higher equity-based pay when firms employ more than...
Persistent link: https://www.econbiz.de/10012857540
Beginning in 2018, U.S. public firms were required to report the ratio of the chief executive officer's (CEO) compensation to their median employee's compensation in the annual proxy statement. We find that this pay ratio disclosure leads to declines in both total compensation and...
Persistent link: https://www.econbiz.de/10012861111