Determinants of executive compensation in privately held firms

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dc.contributor.author	Plenborg, Thomas
dc.contributor.author	Petersen, Christian
dc.contributor.author	Gabrielsen, Gorm
dc.contributor.author	Banghøj, Jesper
dc.date.accessioned	2009-12-01
dc.date.accessioned	2009-12-01T15:38:50Z
dc.date.available	2009-12-01T15:38:50Z
dc.date.issued	2009-12-01
dc.identifier.uri	http://hdl.handle.net/10398/7958
dc.description.abstract	We examine what determines executive compensation in privately held firms. Our study is motivated by the fact that most studies in this area rely on data from publicly traded firms. Further, the few studies that are based on data from privately held firms only examine a limited number of determinants of executive compensation. Our findings indicate that the pay to performance relation is weak. Board size and ownership concentration are the only corporate governance characteristics that explain variations in executive compensation. Executive characteristics like skills, title and educational attainment all explain variations in executive compensation. Contrary to our expectations we do not find a stronger pay to performance relation in firms with better designed bonus plans.	en_US
dc.format.extent	46 s.	en_US
dc.language	eng	en_US
dc.publisher	Institut for Regnskab og Revision	en_US
dc.relation.ispartofseries	WP;2009-01
dc.subject.other	Board characteristics	en_US
dc.subject.other	Compensation contracts	en_US
dc.subject.other	Executive characteristics	en_US
dc.subject.other	Performance measures	en_US
dc.subject.other	Quality of bonus plans	en_US
dc.title	Determinants of executive compensation in privately held firms	en_US
dc.type	wp	en_US
dc.accessionstatus	modt09dec01 mm	en_US
dc.contributor.corporation	Copenhagen Business School. CBS	en_US
dc.contributor.department	Institut for Regnskab og Revision	en_US
dc.contributor.departmentshort	RR	en_US
dc.contributor.departmentuk	Department of Accounting and Auditing	en_US
dc.contributor.departmentukshort	RR	en_US
dc.idnumber	x656599862	en_US
dc.publisher.city	Frederiksberg	en_US
dc.publisher.year	2009	en_US