CEO Presence on the Compensation Committee: A Puzzle
dc.contributor.author | Boyle, Glenn | |
dc.contributor.author | Roberts, Helen | |
dc.date.accessioned | 2015-02-11T21:39:34Z | |
dc.date.accessioned | 2022-07-07T02:18:41Z | |
dc.date.available | 2015-02-11T21:39:34Z | |
dc.date.available | 2022-07-07T02:18:41Z | |
dc.date.copyright | 18/03/2012 | |
dc.date.issued | 2012 | |
dc.description.abstract | Conventional 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.format | en_NZ | |
dc.identifier.uri | https://ir.wgtn.ac.nz/handle/123456789/19222 | |
dc.language.iso | en_NZ | |
dc.publisher | Te Herenga Waka—Victoria University of Wellington | en_NZ |
dc.rights | Permission 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/123456789/18870 | en_NZ |
dc.title | CEO Presence on the Compensation Committee: A Puzzle | en_NZ |
dc.type | Text | en_NZ |
vuwschema.contributor.unit | New Zealand Institute for the Study of Competition and Regulation | en_NZ |
vuwschema.contributor.unit | Victoria Business School: Orauariki | en_NZ |
vuwschema.subject.anzsrcfor | 149999 Economics not elsewhere classified | en_NZ |
vuwschema.subject.anzsrcforV2 | 389999 Other economics not elsewhere classified | en_NZ |
vuwschema.type.vuw | Working or Occasional Paper | en_NZ |