Compensation consultants and CEO pay

被引：5
|
作者：
Kabir, Rezaul [1 ,2 ]
Minhat, Marizah [3 ]
机构：
[1] Univ Twente, Sch Management & Governance, POB 217, NL-7500 AE Enschede, Netherlands
[2] Univ Twente, Inst Innovat & Governance Studies, NL-7500 AE Enschede, Netherlands
[3] Napier Univ, Sch Accounting Financial Serv & Law, Edinburgh EH14 1DJ, Midlothian, Scotland
来源：
RESEARCH IN INTERNATIONAL BUSINESS AND FINANCE | 2014年 / 32卷
关键词：
Executive compensation; CEO pay; Compensation consultant; Corporate governance;
D O I：
10.1016/j.ribaf.2014.05.003
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
The study examines the practice of employing multiple compensation consultants. Examining data of a sample of UK companies over the period 2003-2006 we find that CEOs receive higher equity-based pay when firms employ more than one compensation consultant. An increase in the number of compensation consultants is also associated with an increase in CEO equity-based pay, whereas no decline in CEO pay takes place when firms reduce the number of pay consultants. We also observe that the market shares of compensation consultant are positively related to CEO equity-based pay. (C) 2014 Elsevier B.V. All rights reserved.
引用
收藏
页码：172 / 189
页数：18
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