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Full-Text Articles in Business
Is Say On Pay All About Pay? The Impact Of Firm Performance, Jill E. Fisch, Darius Palia, Steven Davidoff Solomon
Is Say On Pay All About Pay? The Impact Of Firm Performance, Jill E. Fisch, Darius Palia, Steven Davidoff Solomon
Steven M. Davidoff Solomon
The Dodd-Frank Act of 2010 mandated a number of regulatory reforms including a requirement that large U.S. public companies provide their shareholders with the opportunity to cast a non-binding vote on executive compensation. The “say on pay” vote was designed to rein in excessive levels of executive compensation and to encourage boards to adopt compensation structures that tie executive pay more closely to performance. Although the literature is mixed, many studies question whether the statute has had the desired effect. Shareholders at most companies overwhelmingly approve the compensation packages, and pay levels continue to be high. Although a lack of …
Board Structure And Firm Performance: Evidence From Australia, Ingrid Bonn
Board Structure And Firm Performance: Evidence From Australia, Ingrid Bonn
Ingrid Bonn
The influence of corporate governance on firm performance has been discussed for a number of years, but mainly in a United States and European business context. This article investigates the composition of boards of directors in large Australian firms and analyses whether board structure has an impact on performance, as measured by return on equity and market-to-book value ratio. The results showed that outsider ratio and female director ratio were positively associated with firm performance, whereas board size and directors' age had no influence on firm performance.
Board Interlocking Strategies In Emerging Markets: The Case Of Chile, Alfredo Enrione, Fernanzdo Zerboni
Board Interlocking Strategies In Emerging Markets: The Case Of Chile, Alfredo Enrione, Fernanzdo Zerboni
Alfredo Enrione
Interlocking directorates is a widely studied, applied measure of governance practice. Most of the research has been limited to data from developed countries and studies interlocking as an explanatory variable of other governance constructs. This work conceptualizes interlocking as a rational decision of the owner/controller of a company, as a dependent variable of board’s design, and applies the concepts in an emerging market business environment. We found significant associations between interlocking and firm characteristics such as ownership structure, industry and regulation. We finally draw some conclusions on the direct application of corporate governance theories in developing countries.