CEO compensation in high-tech firms and changes in the SFAS No 123 (R)

Paula Faria (), Franscisco Vitorino Martins () and Elísio Brandão ()
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Paula Faria: School of Economics and Management, University of Porto
Franscisco Vitorino Martins: School of Economics and Management, University of Porto
Elísio Brandão: School of Economics and Management, University of Porto

FEP Working Papers from Universidade do Porto, Faculdade de Economia do Porto

Abstract: This study examines the effects of the introduction of the FASB statement 123 (R) on corporate performance and Chief Executive Officer (CEO) compensation in high-technology firms. The total CEO compensation and short- and long-term compensations were tested regarding corporate performance. Panel data SUR models were estimated that describe total compensation and cash compensation as a proportion of total pay for the period between 2000 and 2010. The findings indicate that there is a positive relation between CEO compensation and firm performance in high-tech firms after the FASB statement 123 (R) is implemented, but with less intensity than before. This econometric study provides a better understanding of the relationship between CEO compensation and performance in high-technologies firms before and after the FASB statement 123 (R).

Keywords: Executive compensation; Corporate finance; FASB statement 123 (R) (search for similar items in EconPapers)
JEL-codes: G30 M48 M52 (search for similar items in EconPapers)
Pages: 21 pages
Date: 2013-12
New Economics Papers: this item is included in nep-hrm
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