search query: @author Ogden, S. / total: 10
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| Author: | Ogden, S. Watson, R. |
| Title: | The relationships between changes in incentive structures, executive pay and corporate performance : some evidence from the privatised water industry in England and Wales |
| Journal: | Journal of Business Finance and Accounting
1996 : JUL, VOL. 23:5&6, p. 721-751 |
| Index terms: | PAY INCENTIVES EXECUTIVES COMPANY PERFORMANCE PRIVATIZATION WATER SUPPLY INDUSTRY |
| Language: | eng |
| Abstract: | This paper examines the changes in senior executive pay in the 10 Water plcs since they were privatised in 1989, and empirically estimates the strength of any relationships with corporate performance and external market influences, particularly pay comparisons with other senior executives within the industry. The review of the changes brought about by privatisation suggests that, though as regulated monopolies they are not subject to the full range of private sector incentives and market sanctions, the responsibilities of their senior executives are comparable to those of other private sector firms and that privatisation has provided ample scope for senior executives to take decisions which can materially influence shareholder value. |
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