Chen, Jing; Ezzamel, Mahmoud; Cai, Ziming - In: Journal of Corporate Finance 17 (2011) 4, pp. 1176-1199
In this paper, we test two models of executive pay that have not received much attention in research on Chinese listed companies: managerial power theory and tournament theory. We find that structural power (executive share ownership) and prestige power (executive education) are significantly...