haku: @indexterm chief executive officers / yhteensä: 802
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| Tekijä: | Chung, K. H. Pruitt, S. W. |
| Otsikko: | Executive ownership, corporate value, and executive compensation: A unifying framework |
| Lehti: | Journal of Banking and Finance
1996 : AUG, VOL. 20:7, p. 1135-1159 |
| Asiasana: | COMPANY OWNERSHIP COMPENSATION CHIEF EXECUTIVE OFFICERS |
| Kieli: | eng |
| Tiivistelmä: | This study presents an integrated investigation into the factors affecting executive ownership, the market value of the firm, and executive compensation by explicitly incorporating the simultaneity of the process determining these variables into the empirical estimation. Overall, the results of the study support the notion that a firm's market value, executive stock ownership, and executive compensation are jointly determined. Further, the findings suggest that executive stock ownership and executive compensation may serve as a type of bond by which top executives are induced to act in the best interests of shareholders. The study also finds that a firm's q ratio and an executive's job-specific experience are important determinants of executive compensation. |
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