CEO age and top executive pay: A UK empirical study

被引：2

作者：

McKnight P.J. ^{[1
]}

Tomkins C. ^{[2
]}

Weir C. ^{[3
]}

Hobson D. ^{[2
]}

机构：

[1] University of Wales, Cardiff Business School Britain

来源：

Journal of Management and Governance | 2000年 / 4卷 / 3期

关键词：

Cash remuneration; CEO age; Executive pay;

D O I：

10.1023/A:1026755428942

中图分类号：

学科分类号：

摘要：

This study examines the implications that CEO age has on executive pay regarding data collected in a UK setting. Where prior research has typically focused on total pay (salary plus bonus), this study offers a more complete conceptual model by splitting pay into salary, annual bonus, and share options. In doing so, we found that the relationship between CEO salaries and age are significantly related with this association weakening over time. Another interesting finding not captured by prior research was that the relationship between CEO age and bonus appears to be non-linear in nature. Figures 2 which depicts this non-linear function suggest at about age 53, the proportion of bonus as a percentage of salary begins to decrease at an increasing rate. As a whole, these findings suggest corporate pay committees should consider family and the financial circumstances of the executive when designing remuneration schemes. © 2000 Kluwer Academic Publishers.

引用

页码：173 / 187

页数：14

共 14 条

[11]

McKnight P., An Explanation of Top Executive Pay: A UK Study, British Journal of Industrial Relations, 34, pp. 557-566, (1996)

[12]

McKnight P., Tomkins C., Top Executive Pay in the United Kingdom: A Corporate Governance Dilemma, International Journal of the Economics of Business, 6, pp. 223-243, (1999)

[13]

Mehran H., Executive Incentive Plans, Corporate Control, and Capital Structure, Journal of Financial and Quantitative Analysis, 27, pp. 539-559, (1992)

[14]

Stone E., Hollenbeck J., Some Issues Associated with the Use of Moderated Regression, Organizational Behavior and Human Performance, 34, pp. 195-213, (1984)

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