Prior evidence on how executive compensation influences managerial incentives to take risks in shareholder’s interest ignores potential spillover effects, even though there is evidence that compensation in one firm affects the compensation in other firms. We address this issue in a way that...

Over the period 2005 through 2015, we find that director compensation in Chinese listed firms is influenced by both director characteristics and ownership structure. We measure director compensation by both the propensity to be paid and the level of compensation. For independent directors, we...