Executive compensation disclosure, ownership concentration and dual-class firms: An analysis of Swedish data

We study how executive compensation disclosure (ECD) is affected by the economic incentives of owners and managers in a Swedish setting where agency conflicts are not so much between owners, but controlling non-controlling owners. In our sample, control often enhanced through mechanisms such as dual share classes. The analysis relies on detailed hand-collected ECD data from 2837 annual reports. As expected, decreases with ownership concentration owner’s excess voting rights. Sweden, overpaid Chief Executive Offices (CEOs) improve quality, this case when owner has This suggests that have bond part problem plays different role than previously studied Anglo-Saxon settings.