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Determinants Of Voluntary Board Remuneration Committee Formation And Composition, Pamela Kent, Kim Kercher, James Routledge
Determinants Of Voluntary Board Remuneration Committee Formation And Composition, Pamela Kent, Kim Kercher, James Routledge
Pamela Kent
This study provides evidence on factors that determine the voluntary adoption of corporate governance recommendations regarding remuneration committees in 2008. The findings indicate that remuneration committee existence is significantly associated with insider share ownership, institutional shareholding and change in CEO. Composition of the committee is significantly explained by independent directors and complexity measured by geographical segments (marginally). Other variables controlled for are growth opportunities, free cash flow, asset turnover, size, governance quality, debt levels, age and the presence of a big four auditor.
Moral Implications Of Rational Choice Theories, John Hooker
Moral Implications Of Rational Choice Theories, John Hooker
John Hooker
Rational choice theories assert that human beings behave rationally, either in the narrow sense of rational self-interest, or in the broader sense that decisions are rationally based on preferences. These empirical theories make no direct ethical claims, but they may have relevance to ethics. Social contract theorists have maintained, for example, that rational individuals can assent to a social arrangement that promotes general welfare in some sense. In particular, self-interested business owners can, under the right conditions, rationally consent to regulation. Social choice theorists have argued in a mathematical mode that if we rationally derive social policy from individual preferences, …