Executive compensation, corporate governance and corporate performance: A simultaneous equation approach

dc.contributor.authorNtim, C.G.
dc.contributor.authorLindop, S.
dc.contributor.authorOsei, K.A.
dc.contributor.authorThomas, D.A.
dc.date.accessioned2018-11-05T14:00:31Z
dc.date.available2018-11-05T14:00:31Z
dc.date.issued2013-10
dc.description.abstractThis paper investigates the association between executive compensation and performance. It uniquely utilises a comprehensive set of corporate governance mechanisms within a three-stage least squares (3SLS) simultaneous equation framework. Results based on estimating a conventional single equation model indicate that the executive pay and performance sensitivity is relatively weak, whereas those based on estimating a 3SLS model generally suggest improved executive pay and performance sensitivity. Our findings highlight the need for future research to control for possible simultaneous interdependencies when estimating the executive pay and performance link. The findings are generally robust across a raft of econometric models that control for different types of endogeneities, executive pay and performance proxies. © 2013 John Wiley & Sons, Ltd.en_US
dc.identifier.otherhttps://doi.org/10.1002/mde.2653
dc.identifier.otherVolume 36, Issue 2, Pages 67-96
dc.identifier.urihttp://ugspace.ug.edu.gh/handle/123456789/25286
dc.language.isoenen_US
dc.publisherManagerial and Decision Economicsen_US
dc.subjectExecutive Compensationen_US
dc.subjectCorporate Governanceen_US
dc.subjectCorporate Performanceen_US
dc.subjectA Simultaneous Equation Approachen_US
dc.titleExecutive compensation, corporate governance and corporate performance: A simultaneous equation approachen_US
dc.typeArticleen_US

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