Pay for Performance and Corporate Governance Reform
AbstractDirectorsâ pay and corporate governance continue to generate public outrage and calls for reform. Our meta-regression analysis of all comparable UK pay-for-performance estimates finds little, if any, meaningful association between directorsâ pay and corporate performance. However, there is evidence of the effectiveness of past âcomply-or-explainâ rules, especially the Cadbury Report. Unfortunately, the effects of past reform efforts tend to erode over time. The paper also explores differences between pay-performance estimates, finding that these are largely explained by how pay and performance are measured by a given study.
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal Industrial Relations: A Journal of Economy and Society.
Volume (Year): 51 (2012)
Issue (Month): 3 (07)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0019-8676
Other versions of this item:
- Hristos Doucouliagos & Janto Haman & T.D. Stanley, 2010. "Pay for Performance and Corporate Governance Reform," Economics Series 2010_04, Deakin University, Faculty of Business and Law, School of Accounting, Economics and Finance.
- G3 - Financial Economics - - Corporate Finance and Governance
- M52 - Business Administration and Business Economics; Marketing; Accounting - - Personnel Economics - - - Compensation and Compensation Methods and Their Effects
- J33 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Compensation Packages; Payment Methods
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- Hristos Doucouliagos & Michael Graham & Janto Haman, 2012. "Dynamics and Convergence in Chief Executive Officer Pay," Economics Series 2012_3, Deakin University, Faculty of Business and Law, School of Accounting, Economics and Finance.
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- T.D. Stanley & Hristos Doucouliagos, 2013. "Better than Random: Weighted Least Squares Meta-Regression Analysis," Economics Series 2013_2, Deakin University, Faculty of Business and Law, School of Accounting, Economics and Finance.
- Janto Haman & Hristos Doucouliagos & Michael Graham, 2012. "Agency Problem II and Convergence in CEO Pay," Economics Series 2012_5, Deakin University, Faculty of Business and Law, School of Accounting, Economics and Finance.
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