Economics at your fingertips  

A Gender Gap in Executive Cash Compensation in Thailand: A View of the Expectancy Theory

Kannikar Namwong, Tatre Jantarakolica, Thanomsak Suwannoi and Jutamas Wongkantarakorn

A chapter in Global Corporate Governance, 2017, vol. 19, pp 147-166 from Emerald Publishing Ltd

Abstract: Abstract This study investigates the relation of executive cash compensation and gender characteristics of senior executives of Thai listed companies using 1,660 firm-years observations from 2009 to 2013. The findings show that male executives earn more cash compensation than do their female counterparts and that compensation is higher for male CEOs whose educational qualifications were Master’s degree or above. Companies with a higher proportion of male executives and with better firm performance (measured by ROA, ROE, and Tobin’s q) pay higher cash compensation. The results conform with the Expectancy theory that male executives receive more compensation than do female executives because of their (expected) abilities to make higher returns to the firm’s assets. Other significant determinants are that older and larger firms pay more cash compensation to the executives (Life cycle theory) and that companies with a higher proportion of independent directors (Agency Theory) and higher ownership concentrations (Stewardship theory) offer less compensation.

Keywords: Gender gap; executive compensation; expectancy theory; Thailand; G3 (search for similar items in EconPapers)
Date: 2017
References: Add references at CitEc
Citations: Track citations by RSS feed

Downloads: (external link) ... RePEc&WT.mc_id=RePEc (text/html)
Access to full text is restricted to subscribers

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:

Ordering information: This item can be ordered from
Emerald Group Publishing, Howard House, Wagon Lane, Bingley, BD16 1WA, UK
http://www.emeraldgr ... ies.htm?id=1569-3732

Access Statistics for this chapter

More chapters in Advances in Financial Economics from Emerald Publishing Ltd
Bibliographic data for series maintained by Charlotte Maiorana ().

Page updated 2022-03-28
Handle: RePEc:eme:afeczz:s1569-373220160000019006