haku: @author Seiler, R. E. / yhteensä: 9
viite: 2 / 9
| Tekijä: | Jenkins, E. Seiler, R. E. |
| Otsikko: | The impact of executive compensation schemes upon the level of discretionary expenditures and growth on stockholder wealth |
| Lehti: | Journal of Business Finance and Accounting
1990 : AUTUMN, VOL. 17:4, p. 585-592 |
| Asiasana: | EXECUTIVES COMPENSATION CORPORATE FINANCE WEALTH GROWTH |
| Kieli: | eng |
| Tiivistelmä: | The relationship between long-term and short-term executive compensation schemes, the level of the firm's discretionary expenditures, and growth in stockholder wealth is examined. The sample consists of eighty publicly traded firms, equally divided between those with long-term and short-term compensation schemes. Tests were made to provide evidence of a systematic variation in three of the firm's discretionary expenditures: R and D, capital expenditures, and advertising. A significant difference was found for capital expenditures, but not for the other two. Firms with long-term compensation schemes realized a greater increase in the market value of ownership equity. |
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