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Does say on pay matter? : evidence from the German natural experiment

Troeger, Tobias H.; Walz, Uwe - 2016

We analyze a hand-collected dataset of 1669 executive compensation packages at 34 firms included in the main German stock market index (DAX) for the years 2006- 2014 in order to investigate the impact of the 2009 say on pay legislation. First, we observe that the compensation packages of...

Persistent link: https://www.econbiz.de/10011539853

Compensation committee gender diversity and CEO pay-performance link : evidence from Australia, China, and Pakistan

Khan, Umaal Ahmed; Waleed, Khalid; Nouman, Muhammad; … - In: Pakistan journal of commerce and social sciences 14 (2020) 4, pp. 1065-1087

In this study, we examine the crucial question whether the presence of female directors in the compensation committee (CC) improves the committee objectivity (i.e., paying executives for performance) in context of three countries namely Australia, China, and Pakistan. Using the data of public...

Persistent link: https://www.econbiz.de/10012416344

Board independence, gender diversity and CEO compensation

Benkraiem, Ramzi; Hamrouni, Amal; Lakhal, Faten; Toumi, … - In: Corporate governance : the international journal for … 17 (2017) 5, pp. 845-860

Persistent link: https://www.econbiz.de/10011758823

Risk Premia in Executive Compensation : A Life-Cycle Perspective

Peters, Florian S. - 2011

This paper employs a life-cycle model of consumption and saving to study risk premia in CEO compensation, and compares them to variation in observed pay levels. The model incorporates the main types of risk to income and savings that executives of public corporations typically face: option- and...

Persistent link: https://www.econbiz.de/10013128389

Ironing Out the Kinks in Executive Compensation : Linking Incentive Pay to Average Stock Prices

Tian, Yisong S. - 2012

Traditional stock option grant is the most common form of incentive pay in executive compensation. Applying a principal-agent analysis, we find this common practice suboptimal and firms are better off linking incentive pay to average stock prices. Among other benefits, averaging reduces...

Persistent link: https://www.econbiz.de/10013100690

CEO Compensation and the Role of In-House Experience

Brockman, Paul - 2012

We hand collect a database that includes a direct measure of the incoming CEO's in-house experience at the time of succession. In contrast to previous studies that rely on an insider-outsider binary variable, our continuous variable allows us to examine compensation incentives following CEO...

Persistent link: https://www.econbiz.de/10013109002

Duration of Executive Compensation

Gopalan, Radhakrishnan - 2013

Extensive discussions of the inefficiencies of "short-termism" in executive compensation notwithstanding, very little is known empirically about the extent of such short-termism. This paper develops a novel measure of executive pay duration that reflects the vesting periods of different pay...

Persistent link: https://www.econbiz.de/10013088831

Noise Hedging and Executive Compensation

Doherty, Neil A. - 2013

We address two apparent paradoxes of risk management: (1) managers hedge in order to avoid negative earnings surprises …, yet they tend to hedge risks uninformative of the value of the company; and (2) the presence of options in managers … informational asymmetry between insiders (managers) and outsiders (investors). Investors derive information about company value from …

Persistent link: https://www.econbiz.de/10013092522

CEO Incentive Compensation in U.S. Financial Institutions

Tian, Gloria Yuan - 2014

This paper empirically addresses the questions of whether and, if yes, how U.S. bankers are compensated in particular with regard to incentive pay. Although the level of bank CEO pay has dropped during the financial crisis period, bank CEOs fared much better in comparison to their firms (and, in...

Persistent link: https://www.econbiz.de/10013064637

The Diminishing Returns of Incentive Pay in Executive Compensation Contracts

Lund, Andrew - 2014

For the past 30 years, the conventional wisdom has been that executive compensation packages should include very large proportions of incentive pay. This incentive pay orthodoxy has become so firmly entrenched that the current debates about executive compensation simply take it as a given. We...

Persistent link: https://www.econbiz.de/10013068058