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We study the pay of UK universities chief executives ("vice-chancellors") over a ten year period. Although there is a correlation between pay and performance, with better performing institutions paying higher salaries, we find limited evidence that this relationship is causal; that is, we find...
Persistent link: https://www.econbiz.de/10011856876
We analyze a sample of 2,914 hiring contracts and show how job security plays a role in pay negotiation. We find a significant impact of job security on CEO pay using both firm and industry-level measures across US firms. In general, CEO candidates and the board members would trade pay for job...
Persistent link: https://www.econbiz.de/10012825118
This paper investigates the relation between foreign experience and CEO compensation. Using a sample of large UK firms from the FTSE 350 index from 2003 to 2011, we find that foreign-born CEOs and national CEOs with foreign working experience receive significantly higher levels of total...
Persistent link: https://www.econbiz.de/10012855613
Among the controversies in corporate governance, perhaps none is more heated or widely debated across society than that of CEO pay. The views that American citizens have on CEO pay is centrally important because public opinion influences political decisions that shape tax, economic, and...
Persistent link: https://www.econbiz.de/10012858364
The litmus test for an effective compensation program is whether it provides “pay for performance.” While the concept of pay for performance is simple, its implementation is not. In particular, boards must consider not only whether a compensation plan encourages executives to pursue...
Persistent link: https://www.econbiz.de/10011864729
Over the last decade, executive compensation has attracted the attention from corporate governance specialists and the general public. After briefly examining the purposes of executive compensation, this paper focuses on the governance problems posed by remuneration schemes. It considers the...
Persistent link: https://www.econbiz.de/10014060549
We consider a model of executive compensation in which CEOs have power to influence their compensation and test its implications using CEO compensation data from Execucomp. In the proposed model, CEOs endogenously determine their equity and salary compensation by maximizing the expected utility...
Persistent link: https://www.econbiz.de/10014256616
employed as a way of asset appropriation at the managers' discretion. The results also confirm that corporate governance is …
Persistent link: https://www.econbiz.de/10010490450
Purpose: This study examines the moderating impact of corporate governance quality on the relation between CEO bonus compensation and accounting conservatism. Design/methodology/approach: We use market-based and accrual-based measures to estimate accounting conservatism. According to prior...
Persistent link: https://www.econbiz.de/10012604068
This survey investigated the relationship between executive compensation and corporate financial performance. It hypothesized that a company can utilize its pay system to direct executives' efforts toward its strategic business objectives, and thereby contributes to higher levels of corporate...
Persistent link: https://www.econbiz.de/10013098404