Directors’ Financial Rewards in the Water Industry

John Samuels and A.G. Piper

Corporate Governance: An International Review, 1998, vol. 6, issue 3, 174-187

Abstract: This paper examines the financial rewards received by the directors of the listed Water companies in the five years following privatisation. It considers the salaries, the bonus payments, the gains from executive share options, and the increase in pension entitlements. The increase in the level of the financial rewards of directors of Water companies was greater over this period than of directors in other companies. This was partly the result of the comparatively lower levels of salaries prior to privatisation and partly the result of high gains from executive share options. One of the reasons for the high level of gain on options was the underpricing of the initial public offer of shares. From a corporate governance point of view the period following privatisation was unique in terms of the conditions in which the companies were operating. The annual levels of reward for those directors in post five years after privatisation was in line with directors of similar size companies.

Date: 1998
References: Add references at CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1111/1467-8683.00102

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:corgov:v:6:y:1998:i:3:p:174-187

Ordering information: This journal article can be ordered from
http://www.blackwell ... ref=0964-8410&site=1

Access Statistics for this article

Corporate Governance: An International Review is currently edited by William Judge

More articles in Corporate Governance: An International Review from Wiley Blackwell
Bibliographic data for series maintained by Wiley Content Delivery ().