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The Governance of Directors Pay: Evidence from UK Companies

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The Governance of Directors Pay: Evidence from UK Companies. / Benito, A; Conyon, Martin.

In: Journal of Management and Governance, Vol. 3, No. 2, 1999, p. 117-136.

Research output: Contribution to journalJournal article

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Benito, A & Conyon, M 1999, 'The Governance of Directors Pay: Evidence from UK Companies', Journal of Management and Governance, vol. 3, no. 2, pp. 117-136. https://doi.org/10.1023/A:1009995710541

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Benito, A ; Conyon, Martin. / The Governance of Directors Pay: Evidence from UK Companies. In: Journal of Management and Governance. 1999 ; Vol. 3, No. 2. pp. 117-136.

Bibtex

@article{093e2701c1cf46f7b62a1c1286b71826,
title = "The Governance of Directors Pay: Evidence from UK Companies",
abstract = "We examine the determination of directors'' compensation in UK quoted companies between 1985 and 1994. The primary innovation contained in the paper is the focus on the governance mechanisms that determine pay outcomes. Our results indicate that: (i) directors'' compensation is positively related to pre-dated shareholder returns and company size with the quantitative effect of the latter dominating the former. (ii) We find that the pay-for-performance link has become quantitatively stronger over our sample period. (iii) There has been positive adherence to the principles of the Cadbury report, but these variables play little statistical role in shaping the direct compensation of top directors.",
author = "A Benito and Martin Conyon",
year = "1999",
doi = "10.1023/A:1009995710541",
language = "English",
volume = "3",
pages = "117--136",
journal = "Journal of Management and Governance",
issn = "1385-3457",
publisher = "Springer New York",
number = "2",

}

RIS

TY - JOUR

T1 - The Governance of Directors Pay: Evidence from UK Companies

AU - Benito, A

AU - Conyon, Martin

PY - 1999

Y1 - 1999

N2 - We examine the determination of directors'' compensation in UK quoted companies between 1985 and 1994. The primary innovation contained in the paper is the focus on the governance mechanisms that determine pay outcomes. Our results indicate that: (i) directors'' compensation is positively related to pre-dated shareholder returns and company size with the quantitative effect of the latter dominating the former. (ii) We find that the pay-for-performance link has become quantitatively stronger over our sample period. (iii) There has been positive adherence to the principles of the Cadbury report, but these variables play little statistical role in shaping the direct compensation of top directors.

AB - We examine the determination of directors'' compensation in UK quoted companies between 1985 and 1994. The primary innovation contained in the paper is the focus on the governance mechanisms that determine pay outcomes. Our results indicate that: (i) directors'' compensation is positively related to pre-dated shareholder returns and company size with the quantitative effect of the latter dominating the former. (ii) We find that the pay-for-performance link has become quantitatively stronger over our sample period. (iii) There has been positive adherence to the principles of the Cadbury report, but these variables play little statistical role in shaping the direct compensation of top directors.

U2 - 10.1023/A:1009995710541

DO - 10.1023/A:1009995710541

M3 - Journal article

VL - 3

SP - 117

EP - 136

JO - Journal of Management and Governance

JF - Journal of Management and Governance

SN - 1385-3457

IS - 2

ER -