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Extending the managerial power theory of executive pay: A cross national test
Otten, Jordan J.A.; Heugens, Pursey P.M.A.R - Volkswirtschaftliche Fakultät, … - 2007
Contextual factors are typically neglected in both theorizing and empirical tests on executive pay. The fast majority of empirical investigations use data from U.S. based firms. Theoretical implications are typically developed, understood and tested on the basis of the U.S. context. However, the...
Persistent link: https://www.econbiz.de/10005621578
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Board diversity and firm performance: the Indonesian evidence
Darmadi, Salim - Volkswirtschaftliche Fakultät, … - 2010
This paper examines the associations between diversity of board members and financial performance of the firms listed on the Indonesia Stock Exchange (IDX). Three demographic characteristics of board members—gender, nationality, and age—are used as the proxies for diversity. Using a sample...
Persistent link: https://www.econbiz.de/10011259048
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Earnings management surrounding CEO turnover: evidence from Korea
Choi, Jong-Seo; Kwak, Young-Min; Choe, Chongwoo - Volkswirtschaftliche Fakultät, … - 2012
This article examines the empirical relation between CEO turnover and earnings management in Korea using a sample of 317 CEO turnovers and 634 non-turnover control firms during the period of 2001-2008. We classify CEO turnovers into four types depending on whether the departure of outgoing CEO...
Persistent link: https://www.econbiz.de/10011260003
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Do Women in Top Management Affect Firm Performance? Evidence from Indonesia
Darmadi, Salim - Volkswirtschaftliche Fakultät, … - 2010
This paper investigates the relationship between gender diversity on management boards and financial performance of Indonesian listed companies. We conduct cross-sectional regression analysis based on a sample comprising 92.4 percent of public firms listed on the Indonesia Stock Exchange (IDX)....
Persistent link: https://www.econbiz.de/10011260322
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Relationship between Corporate Governance Indicators and Firm Value: A Case Study of Karachi Stock Exchange
Javed, Attiya Y.; Iqbal, Robina - Volkswirtschaftliche Fakultät, … - 2007
We investigated whether differences in quality of firm-level corporate governance can explain the firm-level performance in a cross-section of companies listed at Karachi Stock Exchange. Therefore, we analysed the relationship between firm-level value as measured by Tobin’s Q and total...
Persistent link: https://www.econbiz.de/10005623348
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Corporate Governance and Firm Performance: Results from Greek Firms
Toudas, Kanellos; Karathanassis, George - Volkswirtschaftliche Fakultät, … - 2007
In this paper, we construct a Governance Index for a sample of Greek companies quoted on the Athens Stock Exchange. We then classify firms, using each firm governance index, into three governance portfolios. Furthermore, the Fama and French model, extended to include a momentum variable, is...
Persistent link: https://www.econbiz.de/10005260083
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Государственные пакеты акций в российских компаниях: происхождение, типы и влияние на результаты деятельности...
Muravyev, Alexander - Volkswirtschaftliche Fakultät, … - 2003
This paper studies the impact of federal state shareholdings on the performance of Russian companies. It differs from most similar studies in two respects. Firstly, it focuses on mixed ownership companies rather than conventional state enterprises. Secondly, it distinguishes between several...
Persistent link: https://www.econbiz.de/10008765637
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Firm age and performance
Loderer, Claudio; Waelchli, Urs - Volkswirtschaftliche Fakultät, … - 2010
As firms grow older, their profitability seems to decline. We first document this phenomenon and show that it is very robust. Then we offer two non-exclusive explanations of why firms may age. First, corporate aging could reflect a cementation of organizational rigidities over time. Consistent...
Persistent link: https://www.econbiz.de/10008695091
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Quality of governance and bank valuation in Russia: An empirical study
Bokov, Vassily; Vernikov, Andrei - Volkswirtschaftliche Fakultät, … - 2008
variable. As for explanatory variables, we put together a set of proxies for quality of bank governance and management, such as ….g. degree of Board independence, qualification of external auditors), stability of bank’s governing bodies (Management Board and … bank, stability of the governing bodies, involvement of well-established external auditors and also that strategic …
Persistent link: https://www.econbiz.de/10005042720
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Managerial Power, Stock-Based Compensation, and Firm Performance: Theory and Evidence
Choe, Chongwoo; Tian, Gloria; Yin, Xiangkang - Volkswirtschaftliche Fakultät, … - 2009
We study theoretically and empirically the relation among CEO power, CEO pay and firm performance. Our theoretical model follows the rent extraction view of CEO compensation put forward by the managerial power theory. We test our theoretical findings using the sample of S&P1500 firms. The...
Persistent link: https://www.econbiz.de/10005787017