An Empirical Analysis on the Determinants of the Executive Compensation in Listed Companies of Financial Industry:Based on the Perspectives of Company Characteristics and Corporate Governance
This article empirically analyzes the determinants of for the compensation of executive managers in listed companies of financial industry with the mixed data of financial listed companies during 2002-2009,from the perspectives of company characteristics and corporate governance. The results indicate that company size and executive pay are positively correlated to executive compensation. Compared with Non-state-owned financial enterprises,Executive compensation in state-owned financial enterprises is significantly lower. Executive compensation in financial enterprises that have set up remuneration committee is significantly higher than that of financial enterprises with no remuneration committee. In addition,ownership structure,the proportion of independent directors,and the executive ownership have no significant effect on executive compensation.
Financial industry Executive compensation Corporate characteristics Corporate governance mechanism
LI Yongzhuang LIU Xiaoyuan CHEN Li
School of Business, Central University of Finance and Economics, Beijing, China, 100081 National Liv School of Business, Central University of Finance and Economics, Beijing, China, 100081
国际会议
The Sixth International Symposium on Corporate Governance(第六届公司治理国际研讨会)
大连
英文
712-726
2011-08-20（万方平台首次上网日期，不代表论文的发表时间）