EXECUTIVE PAY AND PERFORMANCE IN PORTUGUESE LISTED COMPANIES

Paulo Alves, Eduardo Couto and Paulo Francisco

MPRA Paper from University Library of Munich, Germany

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 2002-2011. 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. The policy implications of these results are then derived.

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: 2014-04
New Economics Papers: this item is included in nep-bec and nep-hrm
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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Related works:
Journal Article: Executive pay and performance in Portuguese listed companies (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:55189

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