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Chinese Executive Compensation: Where Do We Stand?

In: Developing China’s Capital Market

Author

Listed:
  • Martin Conyon

    (Lancaster University Management School
    University of Pennsylvania)

  • Lerong He

    (State University of New York)

Abstract

In recent years, scholars have begun to devote significant attention to the systematic examination of Chinese corporate governance given China’s tremendous economic growth and development of capital markets (Allen et al., 2005; Conyon and He, 2011; Hu et al., 2010; Peng et al., 2003, 2010). Executive pay is a significant corporate governance issue. The optimal design of compensation contracts helps resolve agency costs associated with the separation of firm ownership from its control. There are several important questions to address. Are Chinese executives paid in the same way as western executives, given China’s limited experience with stock markets and governance reform? Are the drivers of executive pay, such as firm performance and size, as important in China as in the west? How does the Chinese state affect the provision of incentives in Chinese firms? These questions are, of course, located in the broader question of whether executive pay will globalize along American lines (Cheffins, 2003).

Suggested Citation

  • Martin Conyon & Lerong He, 2013. "Chinese Executive Compensation: Where Do We Stand?," Palgrave Macmillan Books, in: Developing China’s Capital Market, chapter 7, pages 146-175, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-34157-0_7
    DOI: 10.1057/9781137341570_7
    as

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