Are european CEOs paid equally? A study of the UK-continental Europe pay gap
We use an extensive dataset that covers eleven western European countries to document a CEO pay gap between the United Kingdom and continental Europe that is larger than the well-documented gap between US and non-US firms, and remains persistent despite the efforts to harmonize corporate governance...
| Autores: | , |
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| Tipo de recurso: | artículo |
| Fecha de publicación: | 2019 |
| País: | España |
| Institución: | Universidad Autónoma de Madrid |
| Repositorio: | Biblos-e Archivo. Repositorio Institucional de la UAM |
| Idioma: | inglés |
| OAI Identifier: | oai:repositorio.uam.es:10486/716425 |
| Acceso en línea: | http://hdl.handle.net/10486/716425 https://dx.doi.org/10.1016/j.frl.2018.07.006 |
| Access Level: | acceso abierto |
| Palabra clave: | Board of directors CEO compensation Corporate governance European companies Independent directors Economía |
| Sumario: | We use an extensive dataset that covers eleven western European countries to document a CEO pay gap between the United Kingdom and continental Europe that is larger than the well-documented gap between US and non-US firms, and remains persistent despite the efforts to harmonize corporate governance and pay in Europe. Country analyses show a stronger association between board independence and CEO pay in the UK. They also show a stronger association between ROA and cash payments, and a stronger association between market-to-book and equity-linked compensation, suggesting that closer scrutiny could partly contribute to CEO pay moderation in continental Europe. |
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