Evidence on compensation consultant fees and CEO pay

被引：7
作者：
Grosse, Matthew [1 ]
Ma, Nelson [1 ]
Scott, Tom [2 ]
机构：
[1] Univ Technol Sydney, Accounting Discipline Grp, POB 123, Broadway, NSW 2007, Australia
[2] Auckland Univ Technol, Accounting Dept, Auckland, New Zealand
来源：
AUSTRALIAN JOURNAL OF MANAGEMENT | 2020年 / 45卷 / 01期
关键词：
CEO pay; compensation consultants; consulting fees; executive compensation; remuneration adviser; REMUNERATION;
D O I：
10.1177/0312896219837999
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Regulators and previous research have expressed concern about the effect of compensation consultants on CEO pay. We use the Australian setting, where fees for both compensation and other consulting services supplied by compensation consultants are mandated disclosures for all firms, to provide evidence on the role of compensation consultants on CEO pay. We find that the use of compensation consultants or remuneration advisers, fees for compensation services and positive residual compensation service fees are associated with higher CEO pay. In contrast, both the provision and the proportion of fees from other services provided by compensation consultants are not. Furthermore, these positive associations are not observed when a Big 4 accounting firm is the compensation consultant. JEL Classifications: G38, M12, M48, M52
引用
收藏
页码：15 / 44
页数：30
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