Article ID Journal Published Year Pages File Type
957902 Journal of Economics and Business 2013 21 Pages PDF
Abstract
Director compensation in emerging markets is an important issue because of the endemic information asymmetry and weak corporate governance. Using a unique sample of Thai corporations between 2002 and 2008, I find that director compensation is greater in family firms and that executive pay is primarily driven by corporate performance. However, this positive performance-pay relation is attenuated when directors own large shareholdings in their corporation. Finally, standard governance structures such as non-executive directors and splitting the CEO/chairman role are found to have little impact on Thai executive pay.
Related Topics
Social Sciences and Humanities Business, Management and Accounting Strategy and Management
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