Executive pay and performance in Portuguese listed companies

Paulo Alves, Eduardo Barbosa Couto and Paulo Morais Francisco

Research in International Business and Finance, 2016, vol. 37, issue C, 184-195

Abstract: This essay analyses the relationship between corporate governance practices and Chief Executive Officer (CEO) wages from a sample of Portuguese listed companies over the period from 2002 to 2011. The relationship between CEO total compensation and shareholders return, firm characteristics, CEO characteristics, board of directors and shareholders characteristics is analysed. It is found that firm specific factors accounts for the majority of the variance in total CEO pay, while firm performance accounts for less than 5%. It is also found that the CEO characteristics, board of directors’ structures, and shareholders features are related with the CEO pay.

Keywords: Pay; Performance; CEO; Corporate governance; Listed companies; Portugal (search for similar items in EconPapers)
JEL-codes: G30 G32 J33 L22 (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

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Related works:
Working Paper: EXECUTIVE PAY AND PERFORMANCE IN PORTUGUESE LISTED COMPANIES (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:riibaf:v:37:y:2016:i:c:p:184-195

DOI: 10.1016/j.ribaf.2015.11.006

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