کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5108954 1377678 2017 15 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
The cost of CEO duality: Evidence from French leadership compensation
ترجمه فارسی عنوان
هزینه دوگانگی مدیر عامل: شواهد از جبران خسارت رهبری فرانسه
کلمات کلیدی
حاکمیت شرکتی، جبران اجباری، ثنویت، رئیس هیئت مدیره، فرانسه،
موضوعات مرتبط
علوم انسانی و اجتماعی مدیریت، کسب و کار و حسابداری کسب و کار و مدیریت بین المللی
چکیده انگلیسی
This paper aims to provide a detailed analysis of the relationship between board leadership structures and executive compensation. According to agency theory, the combined position of CEO and Chairperson of the Board (COB) entails greater compensation for the CEO in order to reduce conflicts of interest. In the literature, combined board structure is generally considered to generate additional costs for companies. However, the choice of two separate structures implies the payment of incentive compensation for the COB in addition to that defined for the CEO. This paper investigates the financial cost of duality when compensation packages are set for both leaders. Our results suggest that although combined board structure is associated with higher incentive compensation for the CEO, the overall compensation cost to the company is no higher when the chairperson's compensation is considered.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: European Management Journal - Volume 35, Issue 3, June 2017, Pages 336-350
نویسندگان
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