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Rémunération des dirigeants et gouvernance des entreprises:le cas des entreprises françaises cotées

Author

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  • Géraldine Broye

    (École de Management Strasbourg – LARGE)

  • Yves Moulin

    (École de Management Strasbourg – CESAG)

Abstract

(VF)Cette étude s’intéresse à l’incidence des mécanismes de gouvernance sur le niveau de rémunération des dirigeants. À partir d’un échantillon de 132 entreprises françaises cotées, nous examinons l’impact des caractéristiques du conseil d’administration, de l’existence d’un comité de rémunération, ainsi que de la structure de propriété sur la rémunération du dirigeant. Nos résultats mettent notamment en évidence que l’existence d’un comité de rémunération affecte la politique de rémunération, mais que son influence diffère selon le type de structure de propriété de l’entreprise. La proportion d’administrateurs indépendants au conseil n’affecte pas, quant à elle, la politique de rémunération des dirigeants.(VA)This study examines the influence of corporate governance mechanisms on CEO compensation. Using a sample of 132 French listed companies, we study whether ownership structure, the characteristics of board and compensation committee, affect the level of CEO compensation. Our results suggest that the presence of compensation committees affects top management pay, which also varies according to the ownership structure. The proportion of independent directors on the board has no impact on CEO compensation.

Suggested Citation

  • Géraldine Broye & Yves Moulin, 2010. "Rémunération des dirigeants et gouvernance des entreprises:le cas des entreprises françaises cotées," Revue Finance Contrôle Stratégie, revues.org, vol. 13(1), pages 67-98., March.
    • Handle: RePEc:dij:revfcs:v:13:y:2010:i:q1:p:67-98.
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    2. Chiraz Ben Ali & Frederic Teulon, 2014. "CEO Monitoring and board effectiveness: Resolving CEO compensation issue," Working Papers 2014-45, Department of Research, Ipag Business School.
    3. Broye, Géraldine & François, Abel & Moulin, Yves, 2017. "The cost of CEO duality: Evidence from French leadership compensation," European Management Journal, Elsevier, vol. 35(3), pages 336-350.
    4. Mohamed Khenissi & Peter Wirtz, 2013. "Processus Decisionnel En Matiere De Remuneration Des Dirigeants : Le Cas Vinci," Working Papers halshs-00850083, HAL.

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    More about this item

    Keywords

    rémunération des dirigeants; gouvernance des entreprises; comités de rémunération; CEO compensation; corporate governance; compensation committees.;
    All these keywords.

    JEL classification:

    • G3 - Financial Economics - - Corporate Finance and Governance
    • J33 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Compensation Packages; Payment Methods

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