EXECUTIVE PAY AND PERFORMANCE IN PORTUGUESE LISTED COMPANIES

This essay analyses the relationship between corporate governance practices and Chief Executive Officer (CEO) wages from a sample of Portuguese listed companies over the period from 2002-2011. The relationship between CEO total compensation and shareholders return, firm characteristics, CEO characteristics, board of directors and shareholders characteristics is analysed. It is found that firm specific factors accounts for the majority of the variance in total CEO pay, while firm performance accounts for less than 5%. It is also found that the CEO characteristics, board of directors’ structures, and shareholders features are related with the CEO pay. The policy implications of these results are then derived.

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Year of publication:	2014-04
Authors:	Alves, Paulo ; Couto, Eduardo ; Francisco, Paulo

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Type of publication:	Book / Working Paper
Language:	English
Notes:	Alves, Paulo and Couto, Eduardo and Francisco, Paulo (2014): EXECUTIVE PAY AND PERFORMANCE IN PORTUGUESE LISTED COMPANIES.
Classification:	G30 - Corporate Finance and Governance. General ; G32 - Financing Policy; Capital and Ownership Structure ; J33 - Compensation Packages; Payment Methods ; L22 - Firm Organization and Market Structure: Markets vs. Hierarchies; Vertical Integration
Source:	BASE

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