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Corporate Governance and Executive Compensation

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Corporate Governance and Executive Compensation. / Conyon, Martin.
In: International Journal of Industrial Organization, Vol. 15, No. 4, 07.1997, p. 493-509.

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Harvard

Conyon, M 1997, 'Corporate Governance and Executive Compensation', International Journal of Industrial Organization, vol. 15, no. 4, pp. 493-509. https://doi.org/10.1016/S0167-7187(96)01032-6

APA

Conyon, M. (1997). Corporate Governance and Executive Compensation. International Journal of Industrial Organization, 15(4), 493-509. https://doi.org/10.1016/S0167-7187(96)01032-6

Vancouver

Conyon M. Corporate Governance and Executive Compensation. International Journal of Industrial Organization. 1997 Jul;15(4):493-509. doi: 10.1016/S0167-7187(96)01032-6

Author

Conyon, Martin. / Corporate Governance and Executive Compensation. In: International Journal of Industrial Organization. 1997 ; Vol. 15, No. 4. pp. 493-509.

Bibtex

@article{7bfbc5715ad74ac99965468eb7c93ce2,
title = "Corporate Governance and Executive Compensation",
abstract = "This paper examines the impact of corporategovernance innovations on top director compensation in a sample of 213 large UK companies between 1988 and 1993. An enabling factor in the analysis is access to survey data on recent corporategovernance changes in UK companies. The paper finds that director compensation and current shareholder returns are positively correlated. However, in line with other recent UK research the paper finds little evidence of a link between directors' pay (salary and bonus) and pre-dated shareholder returns. There is also some evidence that governance variables play a role in shaping top director pay. Companies which adopt remuneration committees are seen, in some circumstances, to have lower growth rates in top director compensation. Separating the roles of CEO and chairman, however, appears to play no part in shaping directors' pay.",
keywords = "Director compensation, Company performance, Corporate governance",
author = "Martin Conyon",
year = "1997",
month = jul,
doi = "10.1016/S0167-7187(96)01032-6",
language = "English",
volume = "15",
pages = "493--509",
journal = "International Journal of Industrial Organization",
publisher = "Elsevier Inc.",
number = "4",

}

RIS

TY - JOUR

T1 - Corporate Governance and Executive Compensation

AU - Conyon, Martin

PY - 1997/7

Y1 - 1997/7

N2 - This paper examines the impact of corporategovernance innovations on top director compensation in a sample of 213 large UK companies between 1988 and 1993. An enabling factor in the analysis is access to survey data on recent corporategovernance changes in UK companies. The paper finds that director compensation and current shareholder returns are positively correlated. However, in line with other recent UK research the paper finds little evidence of a link between directors' pay (salary and bonus) and pre-dated shareholder returns. There is also some evidence that governance variables play a role in shaping top director pay. Companies which adopt remuneration committees are seen, in some circumstances, to have lower growth rates in top director compensation. Separating the roles of CEO and chairman, however, appears to play no part in shaping directors' pay.

AB - This paper examines the impact of corporategovernance innovations on top director compensation in a sample of 213 large UK companies between 1988 and 1993. An enabling factor in the analysis is access to survey data on recent corporategovernance changes in UK companies. The paper finds that director compensation and current shareholder returns are positively correlated. However, in line with other recent UK research the paper finds little evidence of a link between directors' pay (salary and bonus) and pre-dated shareholder returns. There is also some evidence that governance variables play a role in shaping top director pay. Companies which adopt remuneration committees are seen, in some circumstances, to have lower growth rates in top director compensation. Separating the roles of CEO and chairman, however, appears to play no part in shaping directors' pay.

KW - Director compensation

KW - Company performance

KW - Corporate governance

U2 - 10.1016/S0167-7187(96)01032-6

DO - 10.1016/S0167-7187(96)01032-6

M3 - Journal article

VL - 15

SP - 493

EP - 509

JO - International Journal of Industrial Organization

JF - International Journal of Industrial Organization

IS - 4

ER -