Re-Examining the Determinants of Executive Compensation in the Restaurant Industry: A Quantile Regression Approach

Sang Hyuck Kim and Woo Gon Kim
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Sang Hyuck Kim: Department of Hospitality and Tourism Management, Kyung Sung University, Daeyeon-dong, Namgu, Busan, South Korea
Woo Gon Kim: Dedman School of Hospitality, College of Business, Florida State University, 288 Champions Way, UCB 4116, Tallahassee, FL 32306, USA, and International Scholar from Kyung Hee University, 1 Hoegi-dong, Dongdaemun-gu, Seoul 130-701, Republic of Korea

Tourism Economics, 2011, vol. 17, issue 5, 1035-1054

Abstract: This study investigates the determinants of executive compensation in the restaurant industry with selected variables from both the pay-for-performance rule and the managerial power approach, using a quantile regression method. The quantile regression method also provides an empirical illustration that different levels of executive compensation are related differently to the pay-for-performance and managerial power variables. The results of the quantile regression analysis support the hypotheses that executive corporate governance influences executive compensation and that the restaurant industry partially follows the pay-for-performance rule to determine executive compensation.

Keywords: quantile regression; restaurant industry; pay-for-performance; managerial power approach (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:sae:toueco:v:17:y:2011:i:5:p:1035-1054

DOI: 10.5367/te.2011.0081

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