Does the Founder CEO Receive a Higher Pay for the Firm’s Performance? Evidence from Malaysia
نویسندگان
چکیده
This paper examines whether firms run by a founder chief executive officer (CEO) have higher pay and their power sources from chairing the board, remuneration committee, tenureship, or share ownership affect pay-performance nexus. Data for study was hand-collected amongst 362 family-owned listed in Bursa Malaysia 2009 to 2015 analysed via generalized method of moments (GMM) system address endogeneity. The results showed that initially there significant positive relationship Malaysian firms; however, CEOs had weak influence on Secondly, CEOs’ influences nexus mainly came structural as chairman board. Thirdly, tended be stronger when family member CEO board directors instead themselves, but changed negative more independent sat including committee. findings offered some policy implications regulators enhance corporate transparency directors’ ownership.
منابع مشابه
Does CEO pay dispersion matter in an emerging market? Evidence from China's listed firms
This paper examines how the institutional features of emerging economies (i.e., government ownership, political connections, and market reform) influence CEO pay-dispersion incentives. Consistent with our expectation, we find that CEO pay dispersion generally provides a tournament incentive in China's emerging market, as it is positively associated with firm performance. In addition, tournament...
متن کاملA comparison of CEO pay–performance sensitivity in privately-held and public firms☆
☆ We thank the Editor Stuart Gillan, an anonymous refe Kecskés,Mike Lemmon, Bingxuan Lin, PaulMalatesta, Ern Zhang, and seminar participants at ConcordiaUniversity,H Singapore, Peking University, Shanghai Advanced Institu of International Business and Economics, University of N Xiamen University, and conference participants at the ESE national Conference in Finance (Wuhan), the Northern Fi Fina...
متن کاملWho Cooks the Books in China, and Does It Pay? Evidence from Private, High-technology Firms
Research summary: We document the extent of fraudulent reporting among 467 private Chinese technology companies. Comparing the financial statements concurrently submitted to two different state agencies, we demonstrate a systematic gap in reported profit figures in the two sets of books. We find: (1) more than half the sampled companies report incentive-compatible, materially discrepant profit ...
متن کاملCEO Ability, Pay, and Firm Performance
in the wake of the global financial crisis. Recent indignation over seemingly exorbitant CEO compensation in the face of poor company performance have given rise to the question: Does CEO pay accurately reflect CEO ability? If so, does the CEO make a difference to company performance? Practitioners intuitively know the importance of top CEOs, however does academic research concur? Despite its e...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Malaysian journal of economic studies
سال: 2023
ISSN: ['1511-4554']
DOI: https://doi.org/10.22452/mjes.vol60no1.1