Read Books Online and Download eBooks, EPub, PDF, Mobi, Kindle, Text Full Free.
Download An Empirical Analysis Of The Relationship Between Ceo Compensation And Firm Performance full books in PDF, epub, and Kindle. Read online An Empirical Analysis Of The Relationship Between Ceo Compensation And Firm Performance ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Author : Joo Hun Kang
Publisher :
ISBN 13 :
Total Pages : 244 pages
Book Rating : 4.:/5 (317 download)
Download or read book An Empirical Analysis of the Relationship Between CEO Compensation and Firm Performance written by Joo Hun Kang and published by . This book was released on 1994 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Marc Colin Charles Chopin
Publisher :
ISBN 13 :
Total Pages : 334 pages
Book Rating : 4.:/5 (27 download)
Download or read book Market Structure, Compensation and Incentives written by Marc Colin Charles Chopin and published by . This book was released on 1991 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Bonnie R. Rabin
Publisher :
ISBN 13 :
Total Pages : 304 pages
Book Rating : 4.E/5 ( download)
Download or read book Executive Compensation and Firm Performance written by Bonnie R. Rabin and published by . This book was released on 1987 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Paul L. Joskow
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.3/5 ( download)
Download or read book CEO Pay and Firm Performance written by Paul L. Joskow and published by . This book was released on 1994 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study explores the dynamic structure of the pay-for- performance relationship in CEO compensation and quantifies the effect of introducing a more complex model of firm financial performance on the estimated performance sensitivity of executive pay. The results suggest that current compensation responds to past performance outcomes, but that the effect decays considerably within two years. This contrasts sharply with models of infinitely persistent performance effects implicitly assumed in much of the empirical compensation literature. We find that both accounting and market performance measures influence compensation and that the salary and bonus component of pay as well as total compensation have become more sensitive to firm financial performance over the past two decades. There is no evidence that boards fail to penalize CEOs for poor financial performance or reward them disproportionately well for good performance. Finally, the data suggest that boards may discount extreme performance outcomes -both high and low - relative to performance that lies within some `normal' band in setting compensation.
Author : Yusuf Nulla
Publisher :
ISBN 13 :
Total Pages : 12 pages
Book Rating : 4.:/5 (13 download)
Download or read book The Importance of Firm Ownership on CEO Compensation written by Yusuf Nulla and published by . This book was released on 2013 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: This important study in executive compensation topic investigated the importance of firm ownership on the CEO compensation system in the New York Stock Exchange (NYSE) companies. This research had compared the CEO compensation system of the owner-managed and the management-controlled companies from 2005 to 2010. The research question for this study was: is there a relationship between the CEO cash compensation, the firm size, the accounting firm performance, and the corporate governance, among the owner-managed and the management-controlled companies? It was found that, there was a relationship between the CEO salary, the CEO bonus, the total compensation, the firm size, the accounting firm performance, and the corporate governance, among the owner-managed and the management-controlled companies.
Author : Sooyoung Song
Publisher :
ISBN 13 :
Total Pages : 302 pages
Book Rating : 4.:/5 (466 download)
Download or read book Two Essays on CEO Compensation written by Sooyoung Song and published by . This book was released on 2000 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Aditya Parthasarathy
Publisher :
ISBN 13 :
Total Pages : 35 pages
Book Rating : 4.:/5 (129 download)
Download or read book Executive Compensation, Firm Performance and Corporate Governance written by Aditya Parthasarathy and published by . This book was released on 2006 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the determinants of executive compensation using the most recent data on firm performance, corporate governance and managerial compensation for a large sample of Indian firms. A linear regression model is used to develop explanations for total CEO compensation and the proportion of incentive pay that forms a part of the CEO's compensation. It is found that firm size is a significant determinant of both these aspects of CEO compensation. The results also show that CEOs who are promoters of their firms earn significantly more than ordinary CEOs. Such individuals also earn a much larger component of their compensation as incentive pay. In addition, this study also quantifies the significant divergences in compensation policies that are followed at firms in the public sector when compared to private sector firms.
Author : Benjamin Hermalin
Publisher : Elsevier
ISBN 13 : 0444635408
Total Pages : 762 pages
Book Rating : 4.4/5 (446 download)
Download or read book The Handbook of the Economics of Corporate Governance written by Benjamin Hermalin and published by Elsevier. This book was released on 2017-09-18 with total page 762 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Handbook of the Economics of Corporate Governance, Volume One, covers all issues important to economists. It is organized around fundamental principles, whereas multidisciplinary books on corporate governance often concentrate on specific topics. Specific topics include Relevant Theory and Methods, Organizational Economic Models as They Pertain to Governance, Managerial Career Concerns, Assessment & Monitoring, and Signal Jamming, The Institutions and Practice of Governance, The Law and Economics of Governance, Takeovers, Buyouts, and the Market for Control, Executive Compensation, Dominant Shareholders, and more. Providing excellent overviews and summaries of extant research, this book presents advanced students in graduate programs with details and perspectives that other books overlook. Concentrates on underlying principles that change little, even as the empirical literature moves on Helps readers see corporate governance systems as interrelated or even intertwined external (country-level) and internal (firm-level) forces Reviews the methodological tools of the field (theory and empirical), the most relevant models, and the field’s substantive findings, all of which help point the way forward
Author : Lucian A. Bebchuk
Publisher : Harvard University Press
ISBN 13 : 9780674020634
Total Pages : 308 pages
Book Rating : 4.0/5 (26 download)
Download or read book Pay Without Performance written by Lucian A. Bebchuk and published by Harvard University Press. This book was released on 2004 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: The company is under-performing, its share price is trailing, and the CEO gets...a multi-million-dollar raise. This story is familiar, for good reason: as this book clearly demonstrates, structural flaws in corporate governance have produced widespread distortions in executive pay. Pay without Performance presents a disconcerting portrait of managers' influence over their own pay--and of a governance system that must fundamentally change if firms are to be managed in the interest of shareholders. Lucian Bebchuk and Jesse Fried demonstrate that corporate boards have persistently failed to negotiate at arm's length with the executives they are meant to oversee. They give a richly detailed account of how pay practices--from option plans to retirement benefits--have decoupled compensation from performance and have camouflaged both the amount and performance-insensitivity of pay. Executives' unwonted influence over their compensation has hurt shareholders by increasing pay levels and, even more importantly, by leading to practices that dilute and distort managers' incentives. This book identifies basic problems with our current reliance on boards as guardians of shareholder interests. And the solution, the authors argue, is not merely to make these boards more independent of executives as recent reforms attempt to do. Rather, boards should also be made more dependent on shareholders by eliminating the arrangements that entrench directors and insulate them from their shareholders. A powerful critique of executive compensation and corporate governance, Pay without Performance points the way to restoring corporate integrity and improving corporate performance.
Author : Eahab M. K. Elsaid
Publisher :
ISBN 13 :
Total Pages : 346 pages
Book Rating : 4.:/5 (144 download)
Download or read book CEO Compensation and Succession written by Eahab M. K. Elsaid and published by . This book was released on 2006 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation employs a sample of 521 successions chosen from the ExecuComp database over a 12-year period from 1992 to 2003 to study the relation between compensation and succession. Successions in financial institutions and utilities are excluded from the sample. Paired samples t-tests and Wilcoxon signed rank tests for the predecessor and successor compensation around successions indicate that successors are loaded with options and restricted stocks in order to link their compensation to firm performance. The successor pay-performance compensation is on average greater than that of the predecessor. The successor fixed salary is on average less than that of the predecessor because salary is not linked to firm performance. The successor total compensation is on average greater than that of the predecessor due to the unrelenting competition between firms to hire the best CEO that they can afford. OLS regressions show that the board structure affects the pay-performance compensation of the successors relative to the predecessors and that the compensation committee structure affects the successor pay-performance compensation. The regression analysis shows that when the outside successor does not come from the firm's industry the successor other annual compensation is greater than that of the predecessor. The regression analysis also shows that when the inside successor was designated as the heir apparent the successor total compensation is less than that of the predecessor. The contribution of the dissertation is that it might be among the first studies to examine the relation between CEO succession and total compensation and its different components. Most of the previous literature examined either succession or compensation. Very few studies attempted to examine both compensation and succession and study the different ways in which they affect each other.
Author : Jennifer Carpenter
Publisher : Springer Science & Business Media
ISBN 13 : 1475751923
Total Pages : 159 pages
Book Rating : 4.4/5 (757 download)
Download or read book Executive Compensation and Shareholder Value written by Jennifer Carpenter and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 159 pages. Available in PDF, EPUB and Kindle. Book excerpt: Executive compensation has gained widespread public attention in recent years, with the pay of top U.S. executives reaching unprecedented levels compared either with past levels, with the remuneration of top executives in other countries, or with the wages and salaries of typical employees. The extraordinary levels of executive compensation have been achieved at a time when U.S. public companies have realized substantial gains in stock market value. Many have cited this as evidence that U.S. executive compensation works well, rewarding managers who make difficult decisions that lead to higher shareholder values, while others have argued that the overly generous salaries and benefits bear little relation to company performance. Recent conceptual and empirical research permits for the first time a truly rigorous debate on these and related issues, which is the subject of this volume.
Author : T.J. Moloney
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (115 download)
Download or read book The Relationship Between CEO Compensation and Firm Performance written by T.J. Moloney and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Luis R. Gomez-Mejia
Publisher : Routledge
ISBN 13 : 1317473957
Total Pages : 366 pages
Book Rating : 4.3/5 (174 download)
Download or read book Compensation and Organizational Performance written by Luis R. Gomez-Mejia and published by Routledge. This book was released on 2014-12-18 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: This up-to-date, research-oriented textbook focuses on the relationship between compensation systems and firm overall performance. In contrast to more traditional compensation texts, it provides a strategic perspective to compensation administration rather than a functional viewpoint. The text emphasizes the role of managerial pay, its importance, determinants, and impact on organizations. It analyzes recent topics in executive compensation, such as pay in high technology firms, managerial risk taking, rewards in family companies, and the link between compensation and social responsibility and ethical issues, among others. The authors provide a thorough and comprehensive review of the vast literatures relevant to compensation and revisit debates grounded in different theoretical perspectives. They provide insights from disciplines as diverse as management, economics, sociology, and psychology, and amplify previous discussions with the latest empirical findings on compensation, its dynamics, and its contribution to firm overall performance.
Author : William W. Stammerjohan
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)
Download or read book CEO Compensation and Subsequent Firm Performance written by William W. Stammerjohan and published by . This book was released on 2000 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This study develops and uses a two-stage model to examine the correlation between the compensation of 137 CEO's and the subsequent performance of the 56 companies they manage. This study tests both relationships suggested by the analytical compensation literature and several common assumptions made in the empirical compensation literature. The results suggest that the form of CEO compensation and the relative importance of personal stock ownership both have an effect on subsequent firm performance. Greater reliance on stock options, as a form of CEO compensation is positively correlated with superior subsequent firm performance, while greater reliance on annual bonuses appears to have the opposite effect. The results also suggest that greater personal stock ownership may not provide the commonly assumed alignment of interest between CEO and stockholder.
Author :
Publisher :
ISBN 13 :
Total Pages : 202 pages
Book Rating : 4.:/5 (436 download)
Download or read book Elite CEOs written by and published by . This book was released on 2008 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt: A particular body of research examines the issue of linking executive pay to firm performance by focusing on the observation that CEO compensation varies widely across firms, even within the same industry. This research assumes that the same compensation model (i.e., structure of the model, explanatory variables, and coefficients on those variables) can be applied to all CEOs. If you will, extant research assumes a one-size-fits-all CEO compensation model approach to empirical analysis. Furthermore, much of this research also examines firm performance and similarly utilizes a one-size-fits-all firm performance model. I develop a proxy for CEO managerial power that I use to rank and classify CEOs into two groups: Elite CEOs (above a cut-off by the ranking) and Non-Elite CEOs (the remaining CEOs). As a note, I demonstrate that ranking the CEOs by my proxy for CEO managerial power is not the same as simply ranking the CEOs by their total direct compensation. My empirical results show that a one-size-fits-all model can be rejected. That is, the estimated coefficients in compensation models and firm performance models are different for Elite CEOs as compared to Non-Elite CEOs. Also, firms with Elite CEOs do not have higher performance. This suggests that Elite CEOs extract excessive compensation due to undue influence over their respective boards rather than to superior performance. These findings have both academic and corporate policy implications.
Author : Morris C. Attaway
Publisher :
ISBN 13 :
Total Pages : 488 pages
Book Rating : 4.:/5 (41 download)
Download or read book A Study of the Relationship Between Firm Performance and CEO Compensation written by Morris C. Attaway and published by . This book was released on 1998 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Neslihan Ozkan
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (129 download)
Download or read book CEO Compensation and Firm Performance written by Neslihan Ozkan and published by . This book was released on 2009 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the link between CEO pay and performance employing a unique, hand-collected panel data set of 390 UK non-financial firms from the FTSE All Share Index for the period 1999-2005. We include both cash (salary and bonus) and equity-based (stock options and long-term incentive plans) components of CEO compensation for a panel of large UK companies. Different from previous studies, we use GMM-system estimation method, which controls for the presence of unobserved firm-specific effects and for the endogeneity of explanatory variables. In addition, we control for a comprehensive set of corporate governance variables. The empirical results indicate that there is a positive and significant relationship between firm performance and the level of CEO cash compensation while the relationship is positive but not significant for total compensation. This finding suggests that corporate governance reports in the UK, such as Greenbury Report (1995) that proposed CEO compensation be more closely linked to performance, have not been totally effective. We also find that proportion of non-executive directors on board does not have a significant impact on CEO cash compensation, while non-executive directors' share ownership has a significant impact suggesting that ownership can provide incentives for non-executive directors to be more active in monitoring for CEO compensation packages. Our results also indicate that institutional ownership has a positive and significant influence on CEO pay-for-performance sensitivity of option grants. Finally, we find that longer CEO tenure is associated with lower pay-for-performance sensitivity of option grants suggesting the entrenchment effect of CEO tenure.
