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Wealth creation and managerial pay: MVA and EVA as determinants of executive compensation

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  • Fatemi, Ali
  • Desai, Anand S.
  • Katz, Jeffrey P.

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  • Fatemi, Ali & Desai, Anand S. & Katz, Jeffrey P., 2003. "Wealth creation and managerial pay: MVA and EVA as determinants of executive compensation," Global Finance Journal, Elsevier, vol. 14(2), pages 159-179, July.
    • Handle: RePEc:eee:glofin:v:14:y:2003:i:2:p:159-179
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    1. Jonathan S. Leonard, 1990. "Executive Pay and Firm Performance," ILR Review, Cornell University, ILR School, vol. 43(3), pages 13, April.
    2. Brian J. Hall & Jeffrey B. Liebman, 1998. "Are CEOs Really Paid Like Bureaucrats?," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 113(3), pages 653-691.
    3. Murphy, Kevin J., 1985. "Corporate performance and managerial remuneration : An empirical analysis," Journal of Accounting and Economics, Elsevier, vol. 7(1-3), pages 11-42, April.
    4. Marc Hodak, 1994. "How Eva™ Can Help Turn Mid‐Sized Firms Into Large Companies," Journal of Applied Corporate Finance, Morgan Stanley, vol. 7(1), pages 98-102, March.
    5. Fama, Eugene F, 1980. "Agency Problems and the Theory of the Firm," Journal of Political Economy, University of Chicago Press, vol. 88(2), pages 288-307, April.
    6. White, Halbert, 1980. "A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity," Econometrica, Econometric Society, vol. 48(4), pages 817-838, May.
    7. Hadlock, Charles J & Lumer, Gerald B, 1997. "Compensation, Turnover, and Top Management Incentives: Historical Evidence," The Journal of Business, University of Chicago Press, vol. 70(2), pages 153-187, April.
    8. Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
    9. Winn, Daryl N & Shoenhair, John D, 1988. "Compensation-Based (Dis)incentives for Revenue-Maximizing Behavior: A Test of the "Revised" Baumol Hypothesis," The Review of Economics and Statistics, MIT Press, vol. 70(1), pages 154-158, February.
    10. Grossman, Sanford J & Hart, Oliver D, 1983. "An Analysis of the Principal-Agent Problem," Econometrica, Econometric Society, vol. 51(1), pages 7-45, January.
    11. Harris, Milton & Raviv, Artur, 1979. "Optimal incentive contracts with imperfect information," Journal of Economic Theory, Elsevier, vol. 20(2), pages 231-259, April.
    12. Demski, Js & Sappington, Dem, 1989. "Hierarchical Structure And Responsibility Accounting," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 27(1), pages 40-58.
    13. Mehran, Hamid, 1995. "Executive compensation structure, ownership, and firm performance," Journal of Financial Economics, Elsevier, vol. 38(2), pages 163-184, June.
    14. Jensen, Michael C & Murphy, Kevin J, 1990. "Performance Pay and Top-Management Incentives," Journal of Political Economy, University of Chicago Press, vol. 98(2), pages 225-264, April.
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    Cited by:

    1. Wan Mahmood, Wan Mansor & Norfarah Hani, Yahaya, 2008. "Creating Wealth for Shareholders: Evaluating the Performance of the Malaysia Property Companies," MPRA Paper 14602, University Library of Munich, Germany.
    2. repec:bdu:oejbsm:v:2:y:2017:i:2:p:107-135:id:258 is not listed on IDEAS
    3. Manju Tripathi & Smita Kashiramka & P. K. Jain, 2018. "Flexibility in Measuring Corporate Financial Performance, EVA Versus Conventional Earnings Measures: Evidences from India and China," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 19(2), pages 123-138, June.
    4. Otten, J.A., 2008. "Theories on executive pay. A literature overview and critical assessment," MPRA Paper 6969, University Library of Munich, Germany.
    5. repec:bdu:oejbsm:v:2:y:2017:i:2:p:50-81:id:256 is not listed on IDEAS
    6. Yao, Lee J. & Liu, Chunhui & Chan, Siew H., 2010. "The influence of firm specific context on realizing information technology business value in manufacturing industry," International Journal of Accounting Information Systems, Elsevier, vol. 11(4), pages 353-362.
    7. Tânia Cristina CHIARELLO & Caroline Sulzbach PLETSCH & Alini DA SILVA & Tarcísio Pedro DA SILVA, 2014. "Financial Performance, Intangible Assets And Value Creation Of Brazilian And Chilian Companies Of Information Technology," Revista Galega de Economía, University of Santiago de Compostela. Faculty of Economics and Business., vol. 23(4), pages 73-88.
    8. repec:bdu:oejbsm:v:2:y:2017:i:2:p:82-106:id:257 is not listed on IDEAS
    9. Márkus, Gábor & Rideg, András, 2021. "A magyar mikro-, kis- és középvállalatok versenyképessége és pénzügyi teljesítménye [Modelling and empirical analysis of relations between the competence-based competitiveness and financial performance of Hungarian SMEs]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(6), pages 617-644.

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