Effects of urban financial agglomeration on managerial mobility and corporate management compensation

Siyuan Wang

Finance Research Letters, 2024, vol. 67, issue PA

Abstract: Considering the geographical and economic characteristics of corporations, this article examines the impact of financial agglomeration on managerial compensation level and structure in A-share listed corporations from 2008 – 2022. Results demonstrate a direct relationship between urban financial agglomeration and managerial remuneration. Furthermore, the remuneration structure of these managers includes a significant proportion of equity incentives. This conclusion remains significant after conducting robustness tests to ensure reliability and validity. Additional research suggests that management migration is a small-scale mechanism through which urban financial agglomeration boosts managerial compensation and the proportion of equity incentives.

Keywords: Financial agglomeration; Managerial mobility; Management compensation (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:67:y:2024:i:pa:s1544612324008432

DOI: 10.1016/j.frl.2024.105813

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