Company performance, corporate governance, and CEO compensation in Norway and Sweden

被引：1

作者：

Randøy T. ^{[1
]}

Nielsen J. ^{[2
]}

机构：

[1] Centre for International Business and Maritime Studies, Agder University College, N-4604, Kristiansand

[2] College of Business, Oregon State University, Corvallis, OR

来源：

Journal of Management and Governance | 2002年 / 6卷 / 1期

关键词：

CEO compensation; Company performance; Corporate governance; Norway; Sweden;

D O I：

10.1023/A:1015511912289

中图分类号：

学科分类号：

摘要：

This paper examines the relationship among company performance, corporate governance arrangements, and CEO compensation within the Scandinavian countries of Norway and Sweden. Our sample consists of 224 traded companies, 120 of which are from Norway and 104 from Sweden. The empirical evidence from both Norway and Sweden reveals significant positive relationships among board size and CEO compensation, foreign board membership and CEO compensation, and market capitalization and CEO compensation. A significant negative relationship is found between CEO ownership and CEO compensation. In addition, no significant relationship is found between company performance and CEO compensation or CEO tenure and CEO compensation, except in the case of Norwegian firms when a change in market-to-book performance measure is used. Despite its limited geographical scope, the study adds to our general understanding of international corporate governance issues. © 2002 Kluwer Academic Publishers.

引用

页码：57 / 81

页数：24

共 68 条

[1]

Skandia-Sjef Mister Rekordbonus, (2000)

[2]

Allen M.P., Power and Privilege in the Large Corporations: Corporate Control and Managerial Compensation, American Journal of Sociology, 86, pp. 1112-1123, (1981)

[3]

Attaway M., A Study of the Relationship Between Company Performance and CEO Compensation, American Business Review, 18, pp. 77-85, (2000)

[4]

Baker G.P., Jensen M.C., Murphy K.J., Compensation and Income: Practice vs. Theory, Journal of Finance, 43, pp. 593-616, (1988)

[5]

Balkin D.B., Markman G.D., Gomez-Mejia L.R., Is CEO Pay in High-Technology Firms Related to Innovation?, Academy of Management Journal, 43, pp. 1118-1129, (2000)

[6]

The Control of Corporate Europe, (2001)

[7]

Becker G., Human Capital: A Theoretical and Empirical Analysis, With Special Reference to Education, (1975)

[8]

Boyd B.K., Board Control and CEO Compensation, Strategic Management Journal, 15, pp. 335-344, (1994)

[9]

Conyon M.J., Econometric Modeling of UK Executive Compensation, Managerial Finance, 26, pp. 3-20, (2000)

[10]

Conyon M.J., Peck S.I., Board Size and Corporate Governance: Evidence from European countries, European Journal of Finance, 4, pp. 291-304, (1998)

← 1 2 3 4 5 6 7 →