Wolves in the Hen-House? The Consequences of Formal CEO Involvement in the Executive Pay-Setting Process

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Title

Wolves in the Hen-House? The Consequences of Formal CEO Involvement in the Executive Pay-Setting Process

Content partner

University of Canterbury Library

Collection

UC Research Repository

Description

New Zealand firms exhibit significant variation in the extent to which they formally involve CEOs in the executive pay-setting process: a considerable number sit on the compensation committee, while others are excluded from the board altogether. Using 1997-2005 data, we find that CEOs who sit on the compensation committee obtain generous annual pay rewards that have low sensitivity to poor performance shocks. By contrast, CEOs who are not board members receive pay increments that have low mea...

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Format

Research paper

Research format

Working or discussion paper

Date created

2010

Creator

Boyle, G. / Roberts, H.

URL

http://hdl.handle.net/10092/5370

Related subjects

pay-performance sensitivity / compensation committee / CEO influence / Economics / Applied Economics / Labour Economics / Commerce, Management, Tourism and Services / Business and Management / Human Resources Management

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