Show simple item record

dc.contributor.authorSheikh, M.F.
dc.contributor.authorShah, S.Z.A.
dc.contributor.authorAkbar, Saeed
dc.date.accessioned2019-06-12T11:17:12Z
dc.date.accessioned2019-06-19T15:34:52Z
dc.date.available2019-06-12T11:17:12Z
dc.date.available2019-06-19T15:34:52Z
dc.date.issued2018
dc.identifier.citationSheikh MF, Shah SZA and Akbar S (2018) Firm performance, corporate governance and executive compensation in Pakistan. Applied Economics. 50 (18):2012-2027.en_US
dc.identifier.urihttp://hdl.handle.net/10454/17134
dc.descriptionyesen_US
dc.description.abstractThis study examines the effects of firm performance and corporate governance on chief executive officer (CEO) compensation in an emerging market, Pakistan. Using a more robust Generalized Method of Moments (GMM) estimation approach for a sample of non-financial firms listed at Karachi Stock Exchange (KSE) over the period 2005 to 2012, we find that both current and previous year accounting performance has positive influence on CEO compensation. However, stock market performance does not appear to have a positive impact on executive compensation. We further find that ownership concentration is positively related with CEO compensation, indicating some kind of collusion between management and largest shareholder to get personal benefits. Inconsistent with agency theory, CEO duality appears to have a negative influence, while board size and board independence have no convincing relationship with CEO compensation, indicating board ineffectiveness in reducing CEO entrenchment. The results of dynamic GMM model suggest that CEO pay is highly persistent and takes time to adjust to long-run equilibrium.en_US
dc.language.isoenen_US
dc.relation.isreferencedbyhttps://doi.org/10.1080/00036846.2017.1386277en_US
dc.rights© 2017 Taylor & Francis. This is an Author's Original Manuscript of an article published by Taylor & Francis in Applied Economics in 2017 available online at https://doi.org/10.1080/00036846.2017.1386277en_US
dc.subjectCorporate governanceen_US
dc.subjectDynamic panelen_US
dc.subjectEmerging marketsen_US
dc.subjectExecutive compensationen_US
dc.subjectExecutive compensationen_US
dc.subjectFirm performanceen_US
dc.subjectFixed effectsen_US
dc.subjectPakistanen_US
dc.titleFirm performance, corporate governance and executive compensation in Pakistanen_US
dc.status.refereedyesen_US
dc.date.application2017-10-09
dc.typeArticleen_US
dc.type.versionAccepted manuscripten_US
dc.date.updated2019-06-12T10:17:14Z
refterms.dateFOA2019-06-19T15:36:10Z


Item file(s)

Thumbnail
Name:
FirmPerformance,CorporateGover ...
Size:
408.6Kb
Format:
PDF
Description:
Main article

This item appears in the following Collection(s)

Show simple item record