Corporate Governance Reforms and Executive Compensation Determination: Evidence from the UK

Steve Thompson, Sourafel Girma () and Peter William Wright ()
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Steve Thompson: University of Leicester

No 202, Royal Economic Society Annual Conference 2003 from Royal Economic Society

Abstract: This paper examines the effect that the ÔCadbury reformsÕ have had on the pay determination process of executives in the UK Our results suggest that, on average, the impact has been disappointing. The relationship between pay and performance remains weak and the link to firm size has, if anything, been strengthened. However, our results suggest considerable heterogeneity in the impact of the reforms, and for those firms above median employment the link between pay and profits appears to have strengthened.

Keywords: executive; compensation; governance; Cadbury (search for similar items in EconPapers)
Date: 2003-06-04
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Related works:
Journal Article: CORPORATE GOVERNANCE REFORMS AND EXECUTIVE COMPENSATION DETERMINATION: EVIDENCE FROM THE UK (2007)
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Persistent link: http://EconPapers.repec.org/RePEc:ecj:ac2003:202

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