Block ownership and CEO compensation: does board gender diversity matter?

被引：26
|
作者：
Ullah, Farid [1 ]
Jiang, Ping [2 ]
Shahab, Yasir [1 ]
Li, Hai-Xia [1 ]
Xu, Lei [3 ]
机构：
[1] Xijing Univ, Sch Accounting, Xian, Shaanxi, Peoples R China
[2] Univ Int Business & Econ, Sch Int Trade & Econ, Beijing, Peoples R China
[3] Univ South Australia, Sch Commerce, Adelaide, SA, Australia
来源：
APPLIED ECONOMICS | 2020年 / 52卷 / 06期
基金：
中国国家自然科学基金;
关键词：
Institutional ownership; state ownership; gender diversity; CEO compensation; China; CRASH RISK EVIDENCE; CORPORATE GOVERNANCE; INSTITUTIONAL INVESTORS; EXECUTIVE-COMPENSATION; FIRM PERFORMANCE; AGENCY PROBLEMS; PAY; WOMEN; COMMITTEES;
D O I：
10.1080/00036846.2019.1659490
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This study investigates the effect of block ownership (institutions and state) on CEO compensation and the extent to which gender diversity in the corporate board moderates this nexus during the period from 2008 to 2016 in all Chinese A-share listed firms. The empirical findings of our study are twofold. First, our results indicate that institutional ownership has a positive and significant impact on CEO compensation, while state ownership has a negative and significant impact on CEO compensation. Second, by analysing the moderating role of gender diversity, our results show that gender diversity negatively (positively) moderates the relationship between institutional (state) ownership and CEO compensation. These findings are robust with the use of an alternative measure of CEO compensation and estimation techniques. Overall, our study supports the resource dependence perspective of the moderating role of board gender diversity.
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页码：583 / 597
页数：15
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