Drawing on agency theory and the behavioral agency model (BAM), this study aims to clarify the influence of executive stock options (ESOs) granted to the top management team (TMT) on firm risk taking. In addition, we also consider the effect of gender diversity in the TMT on the relationship...

Purpose: The purpose of this paper is to analyze the Brexit effect – pre-Brexit and post-Brexit referendum periods – on the co-movements between the British pound (GBP), the euro (EUR) and the yen (JPY) against the US dollar (USD). Design/methodology/approach: To ascertain the asymmetric...

<title>Abstract</title> This study analyzes the influence of ownership structure and the board of directors on top management team (TMT) pay levels in a sample of Spanish listed firms. When panel data methodology is applied, the results show that TMT pay level is affected by the supervisory effectiveness of...

This paper analyzes how the characteristics of boards and structure of ownership moderate a firm's capacity to adjust top management team (TMT) pay levels in the face of changes in its economic and complexity conditions. Using panel data from Spanish listed companies between 2003 and 2007, the...

Purpose – The purpose of this paper is to clarify the influence of chief executive officer (CEO) reputation on top management team (TMT) compensation, proposing corporate governance characteristics as a moderator of the relationships between the power of top managers to extract rents and the...

Purpose: The purpose of this paper is to analyze the influence of managerial discretion on the effectiveness of say on pay (SOP) as a governance mechanism. This goal covers an important gap since the issue of how effective SOP is in promoting more aligned compensation has proved somewhat...