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dc.contributor.authorHearn, Bruce
dc.contributor.authorStrange, R.
dc.contributor.authorPiesse, J.
dc.date.accessioned2020-12-03T01:46:27Z
dc.date.accessioned2020-12-14T08:11:50Z
dc.date.available2020-12-03T01:46:27Z
dc.date.available2020-12-14T08:11:50Z
dc.date.issued2017-02
dc.identifier.citationHearn B, Strange R and Piesse J (2017) Social elites on the board and executive pay in developing countries: Evidence from Africa. Journal of World Business. 52(2): 230-243.en_US
dc.identifier.urihttp://hdl.handle.net/10454/18226
dc.descriptionNoen_US
dc.description.abstractThis study applies a new multi-focal actor-centered institution-theoretic approach to examine the association between executive pay and the recruitment of social elites to the board of directors in developing countries. We use a sample of 119 initial public offerings (IPOs) from 17 African stock markets to model this relationship. The results suggest that a higher proportion of elites on the board is associated with lower executive pay. This is moderated by institutional quality; that is, lower institutional quality is associated with more directors drawn from social elites and with higher pay, while the opposite is true in higher-institutional-quality environments. Our findings confirm the importance of the social environment within which governance is embedded.en_US
dc.language.isoenen_US
dc.relation.isreferencedbyhttps://doi.org/10.1016/j.jwb.2016.12.004en_US
dc.rights© 2017 Elsevier. Reproduced in accordance with the publisher's self-archiving policy. This manuscript version is made available under the CC-BY-NC-ND 4.0 license (https://creativecommons.org/licenses/by-nc-nd/4.0/)en_US
dc.subjectAfricaen_US
dc.subjectEmerging economiesen_US
dc.subjectIPOen_US
dc.subjectPolitical economyen_US
dc.subjectSalaryen_US
dc.subjectSocial elitesen_US
dc.titleSocial elites on the board and executive pay in developing countries: Evidence from Africaen_US
dc.status.refereedYesen_US
dc.date.Accepted2016-12-13
dc.date.application2016-12-21
dc.typeArticleen_US
dc.type.versionAccepted manuscripten_US
dc.date.updated2020-12-03T01:46:28Z
refterms.dateFOA2020-12-15T08:19:36Z


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