Determinants of executive compensation in privately held firms

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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


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