The Association Between Gender-Diverse Compensation Committees and CEO Compensation

Martin Bugeja (), Zoltan Matolcsy () and Helen Spiropoulos ()
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Martin Bugeja: University of Technology, Sydney
Zoltan Matolcsy: University of Technology, Sydney
Helen Spiropoulos: University of Technology, Sydney

Journal of Business Ethics, 2016, vol. 139, issue 2, No 10, 375-390

Abstract: Abstract We examine the association between gender-diverse compensation committees and CEO pay and find that CEO compensation levels are negatively associated with gender-diversity of the compensation committee, but not gender-diversity of the board. Furthermore, we find that excess CEO compensation is negatively related to subsequent return on assets for firms with an all-male compensation committee but not for firms with a gender-diverse compensation committee. These results suggest that CEOs do receive some level of excess compensation which can be mitigated by having one or more females on the compensation committee.

Keywords: Gender-diversity; Compensation committee; CEO compensation (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (28)

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DOI: 10.1007/s10551-015-2660-y

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