Compensation committee composition as a determinant of CEO compensation
Article Abstract:
Extant research examining the relationship between a firm's board and its CEO's compensation has focused primarily on the composition of the board-at-large. However, it may be the nature of the compensation committee, not the board as a whole, that is at issue. This study was a longitudinal assessment of the relationship between the composition of a firm's compensation committee and multiple measurements of CEO compensation. We found no evidence that "captured" directors led to greater levels of, or changs in, CEO composition. These findings may suggest the consideration of theories other than agency theory as explanations for the continued focus on board independence. (Reprinted by permission of the publication.)
Publication Name: Academy of Management Journal
Subject: Business, general
ISSN: 0001-4273
Year: 1998
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A changing of the guard: Executive and director turnover following corporate financial restatements
Article Abstract:
The impact of material financial restatements on firms' leadership structures is discussed. A significant and unique context for studying the accountability of strategic leaders for organizational crises is restatements.
Publication Name: Academy of Management Journal
Subject: Business, general
ISSN: 0001-4273
Year: 2006
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