Changes in directors' incentive plans and the performance of firms in the UK

Katsuyuki Kubo, 克行 久保 and カツユキ クボ

No 2001-3, CEI Working Paper Series from Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University

Abstract: Although many companies in the UK adopted an incentive plan for their directors in response to the Cadbury recommendation, few studies have examined the effect of these incentive programmes on firm performance. We investigate whether companies with these incentive plans achieve better performances than those without. The most striking feature of this research may be that we find a strong connection between incentive compensation plans and the performances of firms. In particular, we find a positive relationship between the change of compensation policy and the change of firm performance.

Keywords: Executive compensation; corporate governance; incentive (search for similar items in EconPapers)
JEL-codes: G30 J33 (search for similar items in EconPapers)
Pages: 11 pages
Date: 2001-03
Note: Running title: Changes in directors' incentive plans, March, 2001
References: View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:hit:hitcei:2001-3

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