IDEAS home Printed from https://ideas.repec.org/a/bla/obuest/v60y1998i4p485-507a.html
   My bibliography  Save this article

Directors' Pay and Turnover: An Application to a Sample of Large UK Firms

Author

Listed:
  • Conyon, Martin J

Abstract

This paper examines the operation of the U.K. managerial labor market. The author tests the twin agency predictions that directors' pay is positively related to corporate performance and CEO turnover is negatively associated with firm profitability. He finds that the panel data econometric evidence reveals a significant and positive correlation between directors' pay, company performance, and size; the CEO turnover model predicts a negative, and significant, association with predated shareholder returns: the data is consistent with the view that CEO are disciplined by the threat of dismissal; and boardroom governance factors (e.g., proportion of nonexecutives and board size) are only of some importance in the CEO succession process. Copyright 1998 by Blackwell Publishing Ltd

Suggested Citation

  • Conyon, Martin J, 1998. "Directors' Pay and Turnover: An Application to a Sample of Large UK Firms," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 60(4), pages 485-507, November.
    • Handle: RePEc:bla:obuest:v:60:y:1998:i:4:p:485-507:a
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Other versions of this item:

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:obuest:v:60:y:1998:i:4:p:485-507:a. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://edirc.repec.org/data/sfeixuk.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.