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| Tekijä: | Adams, R.B. Ferreira, D. |
| Otsikko: | Do directors perform for pay? |
| Lehti: | Journal of Accounting & Economics
2008 : SEP, VOL. 46:1, p. 154-171 |
| Asiasana: | directors compensation incentives meetings performance appraisal |
| Kieli: | eng |
| Tiivistelmä: | Several companies reward their outside directors with a small fee for each board meeting they attend. This paper examines a large panel data set on director attendance behavior in publicly-listed firms for the period 1996-2003 and provides robust evidence that directors are less likely to have attendance problems at board meeting when the fees are higher. The result is surprising because meeting fees, on average roughly $1000, represent an arguably small fraction of the total wealth of a representative director in the sample. So, corporate directors appear to perform for even very small financial rewards. |
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