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-task objectives. The incentive system for SOE managers consists of both monetary compensation and promotion within the bureaucratic … system. Political promotion is key to understanding the incentives of SOE managers. In the reform and opening up era, SOEs … have been reformed and exposed to political and market forces. The design of incentive systems for SOE managers has thus …
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Given the vital role of independent directors in determination of executives' compensation, we explore how independent directors view the CEO pay disparity. Using the data of all companies listed on the Shenzhen and Shanghai stock exchanges for the period 2005 to 2015, we find that the...
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