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| Tekijä: | Murphy, K.J. Sandino, T. |
| Otsikko: | Executive pay and "independent" compensation consultants |
| Lehti: | Journal of Accounting & Economics
2010 : APR, VOL. 49:3, p. 247-262 |
| Asiasana: | executives compensation disclosure corporate governance board of directors consultants USA Canada |
| Kieli: | eng |
| Tiivistelmä: | Executive compensation consultants are faced with potential conflicts of interest that can lead to higher recommended levels of CEO pay, including the desires to "cross-sell" services and to secure "repeat business". Evidence is found in both the US and Canada that CEO pay is higher in companies where the consultant provides other services, and that pay is higher in Canadian firms when the fees paid to consultants for other services are large relative to the fees for executive-compensation services. Pay is found to be higher in US firms where the consultants works for the board rather than for the management, which is contrary to expectations. |
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