search query: @author Brander, J.A. / total: 3
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| Author: | Brander, J.A. |
| Title: | The effect of ethical fund portfolio inclusion on executive compensation |
| Journal: | Journal of Business Ethics
2006 : DEC III, VOL. 69:4, p. 317-329 |
| Index terms: | chief executive officers compensation ethics |
| Language: | eng |
| Abstract: | This article divides firms in the Standard and Poor's 500 into two groups based on inclusion in or exclusion from the Domini Social Index (DSI). Inclusion in the DSI is interpreted as a positive indicator of ethical status. It is shown that chief executive officer compensation, other executive compensation, and director compensation tend to be lower in DSI firms than in other firms in the S&P 500. Regression analysis shows that the estimated discount for CEOs of DSI firms is about 12% for both current compensation and total compensation. This indicates that some senior executives require a "compensation differential" to accept positions in firms with less attractive ethical status. |
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