Does adopting voluntary ESG practices affect executive compensation?

被引：12
|
作者：
Abudy, Menachem Meni [1 ]
Gavious, Ilanit [2 ]
Shust, Efrat [3 ]
机构：
[1] Bar Ilan Univ, Sch Business Adm, Ramat Gan, Israel
[2] Ben Gurion Univ Negev, Dept Business Adm, Beer Sheva, Israel
[3] Open Univ Israel, Dept Management & Econ, Raanana, Israel
来源：
JOURNAL OF INTERNATIONAL FINANCIAL MARKETS INSTITUTIONS & MONEY | 2023年 / 83卷
关键词：
ESG; Executive compensation; Banks; Financial institutions; Equator principles; CORPORATE SOCIAL-RESPONSIBILITY; CEO COMPENSATION; BANKING INDUSTRY;
D O I：
10.1016/j.intfin.2022.101718
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
The Equator Principles (EP) is a voluntary framework of environmental guidelines for financial institutions in project financing. This paper examines the impact of an EP adoption on executive compensation. Compared to a matched sample of non-adopting banks, we find that total compensation significantly increased in banks that adopted the EP. The increase was driven by larger grants of equity-based compensation. This effect of EP adoption on executive pay does not depend on the risk management framework of the bank or on the timing of the adoption. Lastly, we do not find evidence of a change in the adopting banks' performance.
引用
收藏
页数：19
相关论文
共 50 条
  • [21] Voluntary disclosure, excess executive compensation, and firm value
    Chung, Huimin
    Judge, William Q.
    Li, Yi-Hua
    JOURNAL OF CORPORATE FINANCE, 2015, 32 : 64 - 90
  • [22] Executive Compensation Contracts and Voluntary Disclosure to Security Analysts
    Johnson, Marilyn
    Natarajan, Ram
    MANAGERIAL FINANCE, 2005, 31 (07) : 3 - 26
  • [23] Does Firm Performance Impact Top-Level Executive Compensation in ESG Companies? Evidence from India
    Rath, Chetna
    Deo, Malabika
    ASIAN JOURNAL OF ACCOUNTING AND GOVERNANCE, 2021, 15
  • [24] Does risk matter for executive compensation?
    Eklund, Mehtap Aldogan
    CORPORATE GOVERNANCE-THE INTERNATIONAL JOURNAL OF BUSINESS IN SOCIETY, 2022, 22 (01): : 159 - 172
  • [25] Do Corporate Taxes Affect Executive Compensation?
    Bornemann, Tobias
    Jacob, Martin
    Sailer, Mariana
    ACCOUNTING REVIEW, 2023, 98 (02): : 31 - 58
  • [26] How does executive green cognition affect enterprise green technology innovation? The mediating effect of ESG performance
    Wu, Lei
    Wang, Chun
    Ren, Honghao
    Zhang, Weijie
    HELIYON, 2024, 10 (14)
  • [27] Executive compensation-setting practices in France
    Alcouffe, A
    Alcouffe, C
    LONG RANGE PLANNING, 2000, 33 (04) : 527 - 543
  • [28] Advancing understanding of ESG score and executive compensation relationships in the Indian context
    Ajay, Ranjitha
    Jory, Surendranath Rakesh
    Syamraj, K. P.
    GLOBAL FINANCE JOURNAL, 2024, 62
  • [29] Compensation practices in the lodging industry: Does top management pay affect corporate performance?
    Upneja, Arun
    Ozdemir, Ozgur
    INTERNATIONAL JOURNAL OF HOSPITALITY MANAGEMENT, 2014, 38 : 30 - 38
  • [30] Does the Perceived Effectiveness of Voluntary Conservation Programs Affect Household Adoption of Sustainable Landscaping Practices?
    Zhang, Xumin
    Khachatryan, Hayk
    LAND, 2023, 12 (07)
12345