Executive compensation: An examination of the influence of TMT compensation on risk-adjusted performance

William Kline*, Masaaki Kotabe, Robert D. Hamilton, Steven Balsam

*この研究の対応する著者

研究成果: Article査読

5 被引用数 (Scopus)

抄録

Purpose: The purpose of this paper is to examine how executive pay schemes influence managerial efficiency, which the authors measure as the risk-adjusted firm performance. Design/methodology/approach: The authors utilized hierarchical regression to test the hypotheses. Findings: The authors find that as options constitute a higher percentage of total compensation packages, subsequent firm risk-adjusted performance declines. The authors also find an inverse relationship between TMT stock ownership and risk-adjusted performance. Research limitations/implications: The findings suggest that the firm stakeholders should reconsider the likely influence of option-based incentives and equity holdings on the risk-adjusted performance. Originality/value: Most executive compensation research focuses on either the pay-to-performance or pay-to-risk links. However, in this paper, the authors combine both the performance and risk dimensions simultaneously.

本文言語English
ページ(範囲)187-205
ページ数19
ジャーナルJournal of Strategy and Management
10
2
DOI
出版ステータスPublished - 2017
外部発表はい

ASJC Scopus subject areas

  • ビジネスおよび国際経営
  • 戦略と経営

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