CEO power, ownership structure and pay performance in Chinese banking

Luo, Yongli

doi:10.1016/j.jeconbus.2015.04.003

Cited by 55 publications

(36 citation statements)

References 44 publications

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“…Our results reveal that concentrated ownership is associated with lower levels of executive remuneration. Also, they support the notion that direct oversight by controlling shareholders is a substitute for executive remuneration in the mitigation of agent-principal conflicts (Hassen et al, 2015;Luo, 2015). In addition, we found that CEO duality and a high proportion of insiders on the BD also reduce the level of compensation, whereas the opposite is true for BDs with a high proportion of independent members.…”

Section: Introductionsupporting

confidence: 83%

“…International studies confirm the influence of ownership concentration on the level of executive remuneration. Smaller compensations are awarded in markets with concentrated capital (Croci, Gonenc, & Ozkan, 2012;Firth, Fung, & Rui, 2007;Hartzell & Starks, 2003;Luo, 2015) and more lavish packages are offered in settings of shareholding dispersion (Jiang et al, 2009;John, Mehran, & Qian, 2010 In addition to addressing the question of ownership concentration, we evaluated the effect of BD structure on executive remuneration to determine to what extent the relationship between ownership concentration and remuneration is moderated by aspects of BD structure, as predicted by the MPA, which is relatively unexplored in the Brazilian setting.…”

Section: Ownership Concentration and Executive Remunerationmentioning

confidence: 99%

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Concentração Acionária, Conselho De Administração E Remuneração De Executivos

et al. 2020

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RESUMO A investigação da influência da concentração acionária e da estrutura do conselho de administração no nível de remuneração de executivos permite esclarecer a dinâmica dos conflitos de agência presentes na empresa brasileira. Os resultados dessa investigação, em 232 empresas listadas na B3, no período 2014-2016, apontam que a concentração acionária influencia negativamente o nível de remuneração executiva, coerentemente com a Teoria da Agência. Ademais, características da estrutura do conselho de administração têm repercussão sobre a remuneração executiva, além do que algumas dessas características afetam a sensibilidade da remuneração à concentração acionária, que, contrariamente à Abordagem do Poder Gerencial, evidencia o predomínio do conflito principal-principal no Brasil.

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Section: Introductionsupporting

confidence: 83%

Section: Ownership Concentration and Executive Remunerationmentioning

confidence: 99%

Concentração Acionária, Conselho De Administração E Remuneração De Executivos

et al. 2020

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“…The board size of the directors and the ratio of non-executive directors on the board size are included to control for board independence. In addition, the high frequency of board meeting suggests the importance of the board and effective corporate governance (Luo, 2015). Board meeting frequency is controlled for as the number of meetings per year.…”

Section: Resultsmentioning

confidence: 99%

IFRS adoption and CEO compensation: evidence from listed banks in Nigeria

Ojeka

Adegboye

Adetula

et al. 2019

Banks and Bank Systems

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The study investigates the influence of International Financial Reporting Standards adoption, using accounting performance measure, to determine the CEO pay in listed banks in Nigeria. The audited annual financial statements of listed banks in Nigeria covering the period of 2009–2015 are analyzed. Fixed effect model, viz panel data analysis is adopted to establish the findings. The findings indicate that adoption of IFRS in Nigeria results in an inverse relationship with accounting performance in determining the CEO compensation after controlling for firm and corporate governance mechanism. However, the adoption of IFRS shows significant positive influence on the CEO pay. This result has policy implication, which encourages the regulatory agencies like Central Bank of Nigeria to monitor the compliance of all banks in Nigeria to the IFRS adoption.

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“…The direct holdings are those shares held by the CEO at the end of the year, while the indirect shares include all shareholding of the CEO in other firms that have significant interest in the firm they manage. The CEO ownership is therefore measured as the percentage of the CEO's direct and indirect shares to the total equity of the firm (Dowell et al 2011;Duru et al 2016;Luo 2015). The second of the three independent variables is CEO education.…”

Section: Independent Variablesmentioning

confidence: 99%

CEO characteristics and firm performance: focus on origin, education and ownership

Saidu

2019

J Glob Entrepr Res

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This study examines the impact of the chief executive officer's (CEO) ownership, education and origin on firm performance. The study uses balanced panel data for 6 years from 2011 to 2016 to run ordinary least square regression. Three variables that include the CEO origin, education and ownership are investigated in relation to firm performance. These characteristics are some of the basic CEO characteristics that are rarely considered by prior studies. The study uses a sample from firms in the financial sector listed on the Nigerian Stock Exchange from 2011 to 2016. The findings indicate that CEO education improves profitability. Similarly, stock performance gets improved when the CEO has prior experience of the firm before being appointed as the chief executive officer. The findings will be useful to shareholders in making an informed decision in selecting the right CEO to manage the firm. Further studies need to consider not only the CEO ownership, but also whether the interest in ownership makes them more powerful.

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CEO power, ownership structure and pay performance in Chinese banking

Cited by 55 publications

References 44 publications

Concentração Acionária, Conselho De Administração E Remuneração De Executivos

Concentração Acionária, Conselho De Administração E Remuneração De Executivos

IFRS adoption and CEO compensation: evidence from listed banks in Nigeria

CEO characteristics and firm performance: focus on origin, education and ownership

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