Corporate Tournaments and Executive Compensation : Evidence From The U. K.  

Oleh:

Conyon, Martin J. ; Peck, Simon I. ; Sadler, Graham V.

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Strategic Management Journal vol. 22 no. 8 (2001), page 805-815.
Topik: CORPORATE; executive compensation; tournament theory

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: SS30.8 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

This study tests the impliczations of tournament theory using data on 1000 U. K. stock market companies, covering over 500 individual executives, in the late 1990s. Our result provide some evidence consistent with the operation of tournament mechanisms within the U. K. business context. Firstly, we find a convex relationship between executive pay and organizational level and secondly that the gap between CEO pay and other board executives (i. e. tournament prize) is positively related to the number of participants in the tournament, However, we also show that the variation is executive team pay has little role in determining company performance.

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