Public Disclosure of Executive Compensation: Do Shareholders Need to Know?

@inproceedings{Andjelkovic2000PublicDO,
  title={Public Disclosure of Executive Compensation: Do Shareholders Need to Know?},
  author={Aleksandar Andjelkovic and G Boyle and Warren McNoe},
  year={2000}
}
Prior to 1997, New Zealand firms were not required to disclose the remuneration paid to their executive employees. We analyze the cross-sectional variation in New Zealand executive compensation during the first year of public disclosure and find no evidence of a positive relationship between pay and performance, regardless of firm size, risk, leverage, and board structure. We also find no link between CEO compensation and governance and ownership structures. Instead, CEO pay seems to depend… CONTINUE READING

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