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CEO Presence on the Compensation Committee: A Puzzle

dc.contributor.authorBoyle, Glenn
dc.contributor.authorRoberts, Helen
dc.date.accessioned2015-02-11T21:39:34Z
dc.date.accessioned2022-07-07T02:18:41Z
dc.date.available2015-02-11T21:39:34Z
dc.date.available2022-07-07T02:18:41Z
dc.date.copyright18/03/2012
dc.date.issued2012
dc.description.abstractConventional wisdom suggests that CEO membership of the compensation committee is an open invitation to rent extraction by self-serving executives. However using data from New Zealand - where CEO compensation committee membership is relatively common - we find that annual pay increments for CEOs with this apparent advantage averaged six percentage points less than those enjoyed by other CEOs during the 1997-2005 period. After controlling for variation in firm performance the difference is a still-sizeable four percentage points. This puzzling result cannot be explained by risk-return tradeoff considerations interaction with other governance variables selection bias or variable mis-measurement.en_NZ
dc.formatpdfen_NZ
dc.identifier.urihttps://ir.wgtn.ac.nz/handle/123456789/19222
dc.language.isoen_NZ
dc.publisherTe Herenga Waka—Victoria University of Wellingtonen_NZ
dc.rightsPermission to publish research outputs of the New Zealand Institute for the Study of Competition and Regulation has been granted to the Victoria University of Wellington Library. Refer to the permission letter in record: https://ir.wgtn.ac.nz/handle/123456789/18870en_NZ
dc.titleCEO Presence on the Compensation Committee: A Puzzleen_NZ
dc.typeTexten_NZ
vuwschema.contributor.unitNew Zealand Institute for the Study of Competition and Regulationen_NZ
vuwschema.contributor.unitVictoria Business School: Orauarikien_NZ
vuwschema.subject.anzsrcfor149999 Economics not elsewhere classifieden_NZ
vuwschema.subject.anzsrcforV2389999 Other economics not elsewhere classifieden_NZ
vuwschema.type.vuwWorking or Occasional Paperen_NZ

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