Executive pay and performance in Portuguese listed companies

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• 作者：Paulo Alves^a ; ^b ; ^{pauloalves@cmvm.pt" class="auth_mail" title="E-mail the corresponding author} ; Eduardo Barbosa Couto^c ; ^d ; ^{ecouto@iseg.utl.pt" class="auth_mail" title="E-mail the corresponding author} ; Paulo Morais Francisco^c ; ^d ; ^{paulofrancisco@iseg.utl.pt" class="auth_mail" title="E-mail the corresponding author}
• 关键词：G30 ; G32 ; J33 ; L22
• 刊名：Research in International Business and Finance
• 出版年：2016
• 出版时间：May 2016
• 年：2016
• 卷：37
• 期：Complete
• 页码：184-195
• 全文大小：493 K

文摘

This essay analyses the relationship between corporate governance practices and Chief Executive Officer (CEO) wages from a sample of Portuguese listed companies over the period from 2002 to 2011. The relationship between CEO total compensation and shareholders return, firm characteristics, CEO characteristics, board of directors and shareholders characteristics is analysed. It is found that firm specific factors accounts for the majority of the variance in total CEO pay, while firm performance accounts for less than 5%. It is also found that the CEO characteristics, board of directors’ structures, and shareholders features are related with the CEO pay.