Do Corporate Taxes Affect Executive Compensation?
نویسندگان
چکیده
ABSTRACT The limitation of executive compensation has been a matter public and policy debate for at least 20 years. We examine regulatory action in Austria 2014 where the tax deductibility total value is unavoidably limited. find no average effects on growth or composition executives’ pay. However, limit affects managers firms with low bargaining power strong corporate governance, indicating that they are affected by limit. Additionally, contract durations executives decrease after renegotiation. further experience cuts investment research development, suggesting shareholders bear part economic burden. Our results indicate effectiveness other reforms, such as Tax Cuts Jobs Act 2017, restricting pay rather JEL Classifications: H21; H22; M41.
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ژورنال
عنوان ژورنال: The Accounting Review
سال: 2023
ISSN: ['1558-7967', '0001-4826']
DOI: https://doi.org/10.2308/tar-2019-0567