Determinants of share-based compensation plans in Central and Eastern European public companies : an institutional analysis

Marion Festing; Ihar Sahakiants

This paper discusses the adoption of share-based compensation plans among Central and Eastern European (CEE) public companies composing major national stock exchange indices in Poland (WIG 20), the Czech Republic (PX) and Hungary (BUX). The analysis shows that the spread of such pay practices depends on the characteristics of major shareholders of the company, the state and foreign parent companies being the most prominent influencing factors. The results are discussed in the light of the legal environment in respective countries.

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Year of publication:	2011
Authors:	Festing, Marion ; Sahakiants, Ihar
Subject:	Central and Eastern Europe \| CEO Compensation \| Comparative HRM \| Institutional Environment \| Ownership/Control Structures \| Osteuropa \| Eastern Europe \| Institutionelle Infrastruktur \| Institutional infrastructure \| Managervergütung \| Executive compensation \| Polen \| Poland \| Ostmitteleuropa \| Central-Eastern Europe \| Ungarn \| Hungary \| Personalmanagement \| Human Resource Management \| Tschechien \| Czech Republic \| Eigentümerstruktur \| Ownership structure \| Erfolgsbeteiligung \| Profit sharing \| Aktienoption \| Stock option \| Führungskräfte \| Managers \| Institutionenökonomik \| Institutional economics \| Systemtransformation \| Economic transition \| Vergütungssystem \| Compensation system